Definition : Consumer Confidence Index is a monthly survey which shows consumer attitudes on the economy and conducted by the Conference Board, including 3.000 households across the country. The Survey reflects the consumers’ current and future perceptions about business and employment circumstances and income levels.
Importance: Consumer spending is the largest part of the economy, and thus increasing consumer confidence leads higher spending. Higher spending leads higher economic growth which means higher corporate profits. Higher profits lead higher stock market.
Previous Data: 90.3 (July)
Expectation: 89.5 (August)
Actual: 92.4 (highest level since 2007)