Consumer Confidence Index (CCI) for October 2021
The Consumer Confidence Index® (CCI) for this month (October 2021) was released by The Conference Board® this morning:
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Predicted: 110.0
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Previous Month (revised): 109.8
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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: 110.0
- Actual: 113.8
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Previous Month (revised): 109.8
- Change from Previous Month: +3.643% (+4.0 points)
The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
From Today's Report:
"...'Consumer confidence improved in October, reversing a three-month downward trend as concerns about the spread of the Delta variant eased,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'While short-term inflation concerns rose to a 13-year high, the impact on confidence was muted. The proportion of consumers planning to purchase homes, automobiles, and major appliances all increased in October, a sign that consumer spending will continue to support economic growth through the final months of 2021. Likewise, nearly half of respondents (47.6%) said they intend to take a vacation within the next six months—the highest level since February 2020, a reflection of the ongoing resurgence in consumers’ willingness to travel and spend on in-person 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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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 | 10/26/2021 11:00:00 PM
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