.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Tuesday, April 28, 2020

Consumer Confidence Index (CCI) for April 2020

The Consumer Confidence Index® (CCI) for this month (April 2020) was released by The Conference Board® this morning:

================

Predicted: 90.0
  • Actual: 86.9

================

Previous Month (revised): 118.8
 
  • Change from Previous Month: -26.852% (-31.9 points)
================

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

From Today's Report:

"...'Consumer confidence weakened significantly in April, driven by a severe deterioration in current conditions,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'The 90-point drop in the Present Situation Index, the largest on record, reflects the sharp contraction in economic activity and surge in unemployment claims brought about by the COVID-19 crisis. Consumers’ short-term expectations for the economy and labor market improved, likely prompted by the possibility that stay-at-home restrictions will loosen soon, along with a re-opening of the economy. However, consumers were less optimistic about their financial prospects and this could have repercussions for spending as the recovery takes hold. The uncertainty of the economic effects of COVID-19 will likely cause expectations to fluctuate 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.

================

================



Labels: , , , , , , , ,


>  SITEMAP  <

0 Comments:

Post a Comment

<< Home


www.FedPrimeRate.com
Entire Website © 2020 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve in any way.
Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.