What is the Consumer Confidence Index?
The Conference Board conducts a survey that results in the Consumer Confidence Index. This measures consumers’ optimism or pessimism regarding their expected financial situations. The more optimistic a consumer is, the more likely they are to stimulate the economy by spending. Trends can start to signal a recession if consumers are pessimistic.
Why is the Consumer Confidence Index important?
The Consumer Confidence Index is considered a leading economic indicator by the Organisation for Economic Co-operation and Development and is widely considered one of the most credible gauges of U.S. consumer confidence. This means it is used to monitor the current economic situation and as a warning of changes in the economy.
What should you do?
Follow the Consumer Confidence Index to better understand consumers’ attitude towards expectations for business, employment, and income for the next six months. Majestic’s CORE Report follows the Consumer Confidence Index; along with other indicators every week to see where the market stands.