Consumer confidence

RECENT NEWS
newratings.com  Sep 30  Comment 
BRUSSELS (dpa-AFX) - The University of Michigan is set to announce its consumer sentiment index for September at 10:00 am ET Friday. The consensus estimate calls for a reading of 0.1 points, a tad higher than 89.8 points reported last month....
Clusterstock  Sep 30  Comment 
The final UMich consumer sentiment index came in better than expected at 91.2 for September. Meanwhile, economists had forecast that the final index would come in at 90.0. However, it wasn't all good news. "Confidence edged...
guardian.co.uk  Sep 29  Comment 
Poll shows UK consumers have shrugged off Brexit fears but economists doubt the optimism can last when EU talks begin in earnest Consumer confidence has continued to recover from the shock of June’s Brexit vote, with a key gauge of sentiment...
newratings.com  Sep 29  Comment 
LISBON (dpa-AFX) - Portugal's consumer confidence improved for the first time in four months in September, while economic sentiment stabilized, survey figures from Statistics Portugal showed Thursday. The consumer confidence index rose to...
newratings.com  Sep 29  Comment 
BRUSSELS (dpa-AFX) - At 10:00 am ET Friday, the University of Michigan has published its final consumer sentiment index for September. The greenback traded mixed against its major rivals after the data. While the greenback rose against the yen, it...
newratings.com  Sep 28  Comment 
ROME (dpa-AFX) - Italy's consumer confidence dropped for a second straight month to its lowest level in 14 months during September, while factory morale rebounded, survey data from ISTAT showed Wednesday. The consumer confidence index...
The Economic Times  Sep 28  Comment 
Analysts said sentiment towards riskier assets was also improved by data on Tuesday showing US consumer confidence this month hit its highest since 2007.
Benzinga  Sep 28  Comment 
EUR/USD is trading at 1.1215, down 0.0002. Italy's ISTAT reported that September Italian consumer confidence slipped to 108.7 from 109.1. The agency said Italy's average hourly wages rose by 0.6 percent on the year in August, the same July. ...
newratings.com  Sep 28  Comment 
STOCKHOLM (dpa-AFX) - Sweden's economic sentiment strengthened to a 5-month high in September, survey data from the National Institute of Economic Research showed Wednesday. The economic tendency index, which measures business and consumer...
New York Times  Sep 27  Comment 
The highest reading on the Consumer Confidence Index since August 2007 fueled a broad rise led by tech and travel companies, including cruise lines.




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Consumer confidence is a term for consumers' level of optimism about the economy. It is used to capture people's perception, rather than the actual state, of the economy. Consumer confidence affects consumption, which accounted for 74% of the US Gross Domestic Product in the first quarter of 2008.[1] This is because people tend to adjust their spending based of expectation of the future. Factors such as changes in employment levels, increase/decrease in gasoline prices, inflation expectations and major events, e.g. terrorist attacks, hurricanes and ending a war, affects consumer confidence. Consumer confidence tends to vary from country to country.

Measures of Consumer Confidence

[[Image:Mich_cc.jpg|right|thumb|450px|University of Michigan Consumer Sentiment Index (Jan 1978- Jan 2008)[2]

Who is affected by changes in consumer confidence

Consumer confidence affects consumption, which accounted for 74% of the US Gross Domestic Product in the first quarter of 2008.[3] This is because people tend to adjust their spending based of expectation of the future. Lower consumer confidence, leads to lower overall spending and vice versa. Economists have concluded that spending on durable goods, such as cars and computers, is affected more than spending on non-durable goods, such as food -- since, consumers tend to put off the high budget items till they feel comfortable about purchasing them.[4] High consumer confidence bodes well for almost all types of businesses.

The type of businesses that are affected most by changes in consumer confidence are:

The type of businesses that are affected least by changes in consumer confidence are:

References

  1. Bureau of Economic analysis, Retrieved 7/30/2008
  2. Data from University of Michigan, retrieved 7/30/2008</ref two studies: The US Consumer Confidencitions for the next six months, current employment conditions, employment conditions for the next six m The University of Michigan Consumer Sentiment Index, calculated and published by the University of Michigan each month, is measured by conducting a phone survey of at least 500 households. The survey contains 50 questions focusing on three broad areas: personal finances, business conditions, and buying conditionber of 1964.<ref>[http://www.sca.isr.umich.edu/documents.php?c=i University of Michigan Consumer Sentiment Index: Survey Information, retrieved 07/25/08]</li> <li id="_note-2">[[#_ref-2|↑]] [http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=5&FirstYear=2007&LastYear=2008&Freq=Qtr Bureau of Economic analysis, Retrieved 7/30/2008]</li> <li id="_note-3">[[#_ref-3|↑]] [http://news.bbc.co.uk/1/hi/business/1561162.stm Why Consumer Confidence Matters?, BBC New, Retrieved 7/20/2008]</li></ol></ref>
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