United States Consumer Confidence
The Conference Board Consumer Confidence Index Monthly Update
The latest Conference Board Consumer Confidence Index was released on Tuesday, February 28 based on data collected through February 16. Americans are more upbeat about the outlook than at any time in the last 15 years as consumer confidence climbed in February to the highest level since July 2001.
The Index which had decreased in January rebounded in February above Wall Street expectations, a sigh that Americans are hopeful the economy will continue to improve. Some economists expected a slight jump to 112.0 in February. The Index now stands at a preliminary 114.8, up from a sliding revision of 111.6 in January.
“Consumer confidence increased in February and remains at a 15-year high (July 2001, 116.3),” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers rated current business and labor market conditions more favorably this month than in January. Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects. Overall, consumers expect the economy to continue expanding in the months ahead.”
Americans expect more jobs to be available and few say jobs are hard to get, however, 26.2 percent of those surveyed, felt that jobs were plentiful in February, down from a downward revision of 27.1 percent in the prior month. More positive, those claiming jobs were "hard to get" decreased from 21.1 percent to 20.3 percent, The Conference Board said.
Consumer confidence for March 2017 will be released on Tuesday, March 28, 2017.
Consumer confidence is a key measure of consumer’s attitudes. The survey, a closely followed barometer of consumer attitudes, measures confidence toward business conditions, short-term outlook, personal finances and jobs. In other words it measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. If consumer confidence is high, consumers are more likely to make purchases. Vice-versa, if consumer confidence is low, consumers are more likely to save and spend less.