What is the Consumer Confidence Index?
The Consumer Confidence Index, or CCI, Survey is an index by The Conference Board that measures how optimistic or pessimistic consumers are about the economy in the near future. The Consumer Confidence Index is based around the idea that if consumers are optimistic, they will purchase more goods and services than if they are pessimistic. This increase in spending stimulates the economy as a whole.
The index is a barometer of the health of the U.S. economy and is based on consumers’ perceptions of current business and employment conditions, and their expectations for business, employment, and income for the next six months.
The Consumer Confidence Index is based on the Consumer Confidence Survey, which is a survey of 5,000 households. The survey asks five questions: two are about present economic conditions, and the other three are related to future expectations of the economy.
The CCI is one of the leading economic indicators for the U.S. economy. Leading indicators are used to monitor current economic situations, and act as warning for turning points in economic activity.
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