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By Staff Reporters
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A consumer confidence index (CCI) is an economic indicator published by various organizations in several countries.
In simple terms, increased consumer confidence indicates economic growth in which consumers are spending money, indicating higher consumption. Decreasing consumer confidence implies slowing economic growth, and so consumers are likely to decrease their spending.
CITE: https://www.r2library.com/Resource/Title/082610254
The idea is that the more confident people feel about the economy and their jobs and incomes, the more likely they are to make purchases. Declining consumer confidence is a sign of slowing economic growth and may indicate that the economy is headed into trouble.
FOR EXAMPLE:
Consumers’ assessment of current business conditions was mixed in November, 2022.
- 18.2% of consumers said business conditions were “good,” up from 17.7%.
- On the other hand, more consumers, 26.7%, said business conditions were “bad,” up from 24.0%.
Consumers’ appraisal of the labor market was somewhat more favorable.
- 45.8% of consumers said jobs were “plentiful,” up from 44.8%.
- 13.0% of consumers said jobs were “hard to get,” unchanged from last month.
OFFICIAL: https://www.conference-board.org/topics/consumer-confidence
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Filed under: "Ask-an-Advisor", Glossary Terms, Health Economics, Investing | Tagged: CCI, Consumer Confidence, Consumer Confidence Index, index |
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