Consumer confidence is defined to be the degree of trust that a consumer feels about the overall state of their economy, as well as their own personal financial situation. Consumer confidence is a main deciding factor in spending activity.
- Among those interested in consumer confidence would be virtually all business owners that desire to know the spending activity of the consumers in their field, political candidates who want to adhere to the trust issues of his or her people, government policy makers, and economists who look for trending patterns and attempt to create foundations for economic structures.
- The Conference Board is a non-profit organization that makes economics-based forecasts, assesses trends, and facilitates learning by creating dynamic communities of interest in order to bestow knowledge about management and the marketplace to help businesses strengthen their performance and better serve society. Every month, The Conference Board collects statistics from 5,000 households.
- In March, The Conference Board Consumer Confidence Index increased to 52.5, which is a rebound from a drop down to 46.4 in February. Consumers' confidence is dependent on their concern about current business and labor market conditions. Currently, consumer confidence levels continue to be pessimistic and have stayed relatively consistent from last year at this time.
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