Consumer Confidence Index (CCI) for May 2022

The Consumer Confidence Index® (CCI) for this month (May 2022) was released by The Conference Board® this morning:

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Predicted: 106.0

• Actual: 106.4

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Previous Month (revised): 108.6

• Change from Previous Month: -2.026% (-2.2 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 dipped slightly in May, after rising modestly in April,' said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 'The decline in the Present Situation Index was driven solely by a perceived softening in labor market conditions. By contrast, views of current business conditions -- which tend to move ahead of trends in jobs -- improved. Overall, the Present Situation Index remains at strong levels, suggesting growth did not contract further in Q2. That said, with the Expectations Index weakening further, consumers also do not foresee the economy picking up steam in the months ahead. They do expect labor market conditions to remain relatively strong, which should continue to support confidence in the short run.'..."

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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CHART: Consumer Confidence Index (CCI)
May 2022 Update

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• Click here to view the full Conference Board report.
    

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