Consumer Confidence Index (CCI) for July 2021
The Consumer Confidence Index® (CCI) for this month (July 2021) was released by The Conference Board® this morning:
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Predicted: 125.0
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Previous Month (revised): 128.9
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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:
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.
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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Predicted: 125.0
- Actual: 129.1
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Previous Month (revised): 128.9
- Change from Previous Month: +0.1552% (+0.2 point)
The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
From Today's Report:
"...'Consumer confidence was flat in July but remains at its highest level since February 2020 (132.6),' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Consumers’ appraisal of present-day conditions held steady, suggesting economic growth in Q3 is off to a strong start. Consumers’ optimism about the short-term outlook didn’t waver, and they continued to expect that business conditions, jobs, and personal financial prospects will improve. Short-term inflation expectations eased slightly but remained elevated. Spending intentions picked up in July, with a larger percentage of consumers saying they planned to purchase homes, automobiles, and major appliances in the coming months. Thus, consumer spending should continue to support robust economic growth in the second half of 2021.'..."
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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Labels: cci, Conference_Board, consumer_confidence, consumers, Coronavirus, COVID-19, COVID19, Pandemic, soft_data, The_Conference_Board
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posted by Steve Brown | 7/27/2021 12:51:00 PM
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