Economy: Consumer Confidence Index (CCI) for March 2021

Tuesday, March 30, 2021

Consumer Confidence Index (CCI) for March 2021

The Consumer Confidence Index® (CCI) for this month (March 2021) was released by The Conference Board® this morning:

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

Predicted: 95.0

Actual: 109.7

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

Previous Month (revised): 90.4

Change from Previous Month: +21.35% (+19.3 points)

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

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

From Today's Report:

"...'Consumer Confidence increased to its highest level since the onset of the pandemic in March 2020,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of current conditions and their short-term outlook improved significantly, an indication that economic growth is likely to strengthen further in the coming months. Consumers’ renewed optimism boosted their purchasing intentions for homes, autos and several big-ticket items. However, concerns of inflation in the short-term rose, most likely due to rising prices at the pump, and may temper spending intentions 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.

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