.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Tuesday, August 31, 2021

Consumer Confidence Index (CCI) for August 2021

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

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

Predicted: 125.0
  • Actual: 113.8

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

Previous Month (revised): 125.1

  • Change from Previous Month: -9.033% (-11.3 point)
================

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

From Today's Report:

"...'Consumer confidence retreated in August to its lowest level since February 2021 (95.2),' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'Concerns about the Delta variant -- and, to a lesser degree, rising gas and food prices -- resulted in a less favorable view of current economic conditions and short-term growth prospects. Spending intentions for homes, autos, and major appliances all cooled somewhat; however, the percentage of consumers intending to take a vacation in the next six months continued to climb. While the resurgence of COVID-19 and inflation concerns have dampened confidence, it is too soon to conclude this decline will result in consumers significantly curtailing their spending 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.

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

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

Labels: , , , , , , , , ,


>  SITEMAP  <

0 Comments:

Post a Comment

<< Home


www.FedPrimeRate.com
Entire Website © 2021 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve in any way.
Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.