Consumer Confidence The Conference Board releases the Consumer Confidence Index on the last Tuesday of every month. The report details the levels of confidence individual households have in the performance of the economy. The data is derived from a survey of 5,000 households nationwide. The survey polls consumer opinions on current business conditions, their jobs, their incomes, and their future spending plans. The consumer confidence index is significant in that it provides a precursor into consumers’ willingness to spend in the months ahead. However, many analysts point out that willingness to spend does not always convert to actual expenditures. Consumers are vital to the US economy as consumer spending is a large portion of the gross domestic product. This week’s release will be eagerly anticipated. Look for any variation from estimates to cause mortgage interest rate volatility.
Posted on: Wed, 28 Aug 2013 12:10:00 +0000
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