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Economy

Economic Data (USA)

Tuesday, October 29, 2019

Consumer Confidence Index (CCI) for October 2019

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

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Predicted: 128.8
  • Actual: 125.9

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Previous Month (revised): 126.3
 
  • Change from Previous Month: -0.317% (-0.4 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:

"...'Consumer confidence was relatively flat in October, following a decrease in September,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'The Present Situation Index improved, but Expectations weakened slightly as consumers expressed some concerns about business conditions and job prospects. However, confidence levels remain high and there are no indications that consumers will curtail their holiday spending.'..."

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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