Economy: Consumer Confidence Index (CCI) for April 2018

The Consumer Confidence Index® (CCI) for this month (April 2018) was released by The Conference Board® this morning:

Predicted: 126.1
Actual: 128.7

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Previous Month (revised): 127.0.

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

From Today's Report:

"...'Consumer confidence increased moderately in April after a decline in March,' said Lynn Franco, Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of current conditions improved somewhat, with consumers rating both business and labor market conditions quite favorably. Consumers’ short-term expectations also improved, with the percent of consumers expecting their incomes to decline over the coming months reaching its lowest level since December 2000 (6.0 percent). Overall, confidence levels remain strong and suggest that the economy will continue expanding at a solid pace in the months ahead.'

Consumers’ appraisal of current conditions improved modestly in April. The percentage saying business conditions are 'good' decreased from 37.6 percent to 35.2 percent, however those claiming business conditions are 'bad' also decreased, from 13.3 percent to 11.3 percent. Consumers’ assessment of the labor market was also mixed. The percentage of consumers claiming jobs are 'plentiful' declined from 39.5 percent to 38.1 percent, while those claiming jobs are 'hard to get' also declined, from 15.7 percent to 15.2 percent.

Consumers were moderately more positive about the short-term outlook in April. The percentage of consumers anticipating business conditions will improve over the next six months increased from 23.2 percent to 24.5 percent, while those expecting business conditions will worsen decreased from 10.2 percent to 9.7 percent.

Consumers’ outlook for the labor market was also more positive. The proportion expecting more jobs in the months ahead increased from 18.9 percent to 19.5 percent, while those anticipating fewer jobs remained at 12.5 percent. Regarding their short-term income prospects, the percentage of consumers expecting an improvement was virtually unchanged at 23.1 percent, while the proportion expecting a decrease declined from 7.2 percent to 6.8 percent..."

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.