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Economy

Economic Data (USA)

Tuesday, November 24, 2020

Consumer Confidence Index (CCI) for November 2020

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

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Predicted: 100.0
  • Actual: 96.1

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Previous Month (revised): 101.4
 
  • Change from Previous Month: -5.227% (-5.3 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 declined in November, after remaining virtually flat in October,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of present-day conditions held steady, though consumers noted a moderation in business conditions, suggesting growth has slowed in Q4. Heading into 2021, consumers do not foresee the economy, nor the labor market, gaining strength. In addition, the resurgence of COVID-19 is further increasing uncertainty and exacerbating concerns about the outlook.'..."

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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