Consumer confidence refers to the degree of optimism or pessimism that individuals have about the state of the economy and their personal financial situation. It is measured through surveys and indices that assess consumers’ attitudes and perceptions regarding their current and future economic conditions.
Consumer confidence is influenced by various factors such as employment rates, income levels, inflation, and other economic indicators. High levels of consumer confidence can indicate that individuals are more willing to spend money and make investments, which can stimulate economic growth. In contrast, low levels of consumer confidence may lead to decreased spending and investment, which can have a negative impact on the economy.
The Conference Board Consumer Confidence Index and the University of Michigan Consumer Sentiment Index are two commonly used measures of consumer confidence in the United States. These indices are closely watched by economists, policymakers, and investors as they provide valuable insights into consumer behavior and can help predict future economic trends.
Here is a link to the Consumer Confidence Index.
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