This consumer confidence indicator provides an indication of future developments of households' consumption and saving, based upon answers regarding their expected financial situation, their sentiment about the general economic situation, unemployment and capability of savings.
Nevertheless, the consumer confidence index has traditionally been used for the prediction on trends of employment and the general state of the economy.
In Australia, business confidence in the NAB survey(Tuesday) and consumer confidence(Wednesday) will be watched for the impact of recent political turmoil.
Economic data indicated consumer confidence index, as measured by Conference Board, instead of falling as anticipated rose to 103.0 from a revised 101.1 in August.
Moreover, the National Federation of Independent Business is reporting record levels of optimism, and the Consumer Confidence Index recently reached its highest level in 17 years.
The U.S. continues to show signs of economic improvement, which are most visible in the upward march of monthly employment data, improving consumer confidence and accelerating loan growth.
Consumer Confidence Index is the average of the balance of answers to four questions: evaluating the financial state of the family household, evaluating the general economic situation in the country in the past and opinion about its future, the acceptability of making large purchases at the moment.
Nonetheless, low consumer confidence, efforts to rebuild balance sheets, and heightened caution on the part of households facing an uncertain economic environment were seen as factors likely to continue to weigh on household spending going forward.
The consumer confidence index(CCI) is an economic indicator that measures future developments of household consumption and savings, based on answers regarding their expected financial situation, their feelings regarding the general economic situation, unemployment and capability of saving.
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