Consumer Confidence Index (CCI) for June 2021

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

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Predicted: 120.0

• Actual: 127.3

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Previous Month (revised): 120.0

• Change from Previous Month: +6.083% (+7.3 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 increased in June and is currently at its highest level since the onset of the pandemic’s first surge in March 2020,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers’ assessment of current conditions improved again, suggesting economic growth has strengthened further in Q2. Consumers’ short-term optimism rebounded, buoyed by expectations that business conditions and their own financial prospects will continue improving in the months ahead. While short-term inflation expectations increased, this had little impact on consumers’ confidence or purchasing intentions. In fact, the proportion of consumers planning to purchase homes, automobiles, and major appliances all rose -- a sign that consumer spending will continue to support economic growth in the short-term. Vacation intentions also rose, reflecting a continued increase in spending on services.'..."

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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• Click here to view the full Conference Board report.
    

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