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Economy

Economic Data (USA)

Tuesday, March 28, 2017

Consumer Confidence Index (CCI) for March 2017

The Consumer Confidence Index® (CCI) for this month (March 2017) was released by The Conference Board® this morning:

Predicted: 113.8
Actual: 125.6

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From Today's Report:

"...'Consumer confidence increased sharply in March to its highest level since December 2000 (Index = 128.6),' said Lynn Franco, Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects. Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.'..."

Every month, The Conference Board sends a questionnaire to 5,000 U.S. households. Survey participants are polled about their feelings regarding the U.S. economy, current and future, and about their own fiscal circumstances. On average, 3,500 participants complete and return the 5-question survey.

The baseline "100" score for the CCI is associated with 1985 survey data.

When consumers feel good about the economy, they tend to do more spending, and vice versa.

Based in New York City, The Conference Board is a private, not-for-profit organization with a mission to, "create and disseminate knowledge about management and the marketplace to help businesses strengthen their performance and better serve society."

The CCI is usually released on the last Tuesday of the month.

Last month, the CCI was 116.1 (revised.)


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