Definition: This index is based on a survey designed to gauge how much confidence consumers have in the economy, as expressed by their spending and savings activities.
Description: The Consumer Confidence Index survey has been carried out on a monthly basis since 1967 to determine how optimistic consumers are about the state of the economy. The index is benchmarked to a 1985 reading of 100 and is updated monthly, based on a survey of 5,000 US households. Participants are asked for their opinions regarding the current business conditions and employment market (forming the Present Situation Index, weighted as 2/5 of CCI) as well as their expectations for the upcoming six months for business conditions, the employment market, and family income (forming the Expectations Index, weighted as 3/5 of CCI). Consumer Confidence is considered a leading indicator and is used to forecast the direction of the US economy.
Influence: An increase in the index reflects favourable conditions throughout the economy and tends to strengthen the US dollar as a result.
Market Impact: Low
Released: Around the 20th of each month at 15:00 GMT
Source: The Conference Board (New York)