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Economy

Economic Data (USA)

Tuesday, September 29, 2020

Consumer Confidence Index (CCI) for September 2020

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

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Predicted: 90.0
  • Actual: 101.8

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Previous Month (revised): 86.3
 
  • Change from Previous Month: +17.961% (+15.5 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 increased sharply in September, after back-to-back monthly declines, but remains below pre-pandemic levels,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence. Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further 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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