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Economy

Economic Data (USA)

Tuesday, May 28, 2019

Consumer Confidence Index (CCI) for May 2019

The Consumer Confidence Index® (CCI) for this month (May 2019) was released by The Conference Board® this morning:

  • Actual: 134.1

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Previous Month (revised): 129.2

  • Change from Previous Month: +3.793% (+4.9 points)
 
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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 posted another gain in May and is now back to levels seen last Fall when the Index was hovering near 18-year highs,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'The increase in the Present Situation Index was driven primarily by employment gains. Expectations regarding the short-term outlook for business conditions and employment improved, but consumers’ sentiment regarding their income prospects was mixed.

Consumers expect the economy to continue growing at a solid pace in the short-term, and despite weak retail sales in April, these high levels of confidence suggest no significant pullback in consumer spending in the months ahead.'..
."

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.

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