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Economy

Economic Data (USA)

Tuesday, July 30, 2019

Consumer Confidence Index (CCI) for July 2019

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

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Predicted: 125.0
Actual: 135.7

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    Previous Month (revised): 124.3

    • Change from Previous Month: +9.171% (+11.4 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:

    "...'After a sharp decline in June, driven by an escalation in trade and tariff tensions, Consumer Confidence rebounded in July to its highest level this year,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers are once again optimistic about current and prospective business and labor market conditions. In addition, their expectations regarding their financial outlook also improved. These high levels of confidence should continue to support robust spending in the near-term despite slower growth in GDP.'..."

    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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