Economy: Consumer Confidence Index (CCI) for August 2019

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

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Predicted: 130.0
Actual: 135.1

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Previous Month (revised): 135.8

Change from Previous Month: -0.515% (-0.7 point)

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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:

"...The Conference Board Consumer Confidence Index® declined marginally in August, following July’s rebound. The Index now stands at 135.1 (1985=100), down from 135.8 in July. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 170.9 to 177.2. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – declined from 112.4 last month to 107.0 this month.

'Consumer confidence was relatively unchanged in August, following July’s increase,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of current conditions improved further, and the Present Situation Index is now at its highest level in nearly 19 years (November 2000: 179.7.) Expectations cooled moderately, but overall remain strong. While other parts of the economy may show some weakening, consumers have remained confident and willing to spend. However, if the recent escalation in trade and tariff tensions persists, it could potentially dampen consumers’ optimism regarding the short-term economic outlook.'..."

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About The CCI:

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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