What was the Consumer Confidence Index in 2021?
22, 2021, at 10:48 a.m. Consumer confidence rose in December, while November was revised upward, as consumers ended the year on a strong note and well-positioned entering 2022, The Conference Board reported on Wednesday. The organization’s Consumer Confidence Index is now at 115.8, up from a revised 111.9 in November.
What is the role of consumer confidence index?
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.
What happens when consumer confidence in the economy is low?
When confidence is low, consumers tend to save more and spend less. A month-to-month trend in consumer confidence reflects the outlook of consumers with respect to their ability to find and retain good jobs according to their perception of the current state of the economy and their personal financial situation.
What is the Consumer Confidence Index in the euro area?
Consumer Confidence in the Euro Area averaged -10.01 Index Points from 1985 until 2019, reaching an all time high of -1.40 Index Points in May of 2000 and a record low of -23.90 Index Points in March of 2009.
What is driving consumer confidence in the euro area in 2021?
The consumer confidence indicator in the Euro Area rose by 3.0 points from a month earlier to -5.1 in May 2021, the highest level since October 2018 and above market expectations of -6.8, a flash estimate showed. Sentiment has been recently supported by the reopening of the economy and the acceleration of COVID vaccinations.
What is the consumer confidence indicator?
The Consumer Confidence Indicator displays the level of consumer confidence in the euro area’s economic activity. The index is calculated monthly based on a survey of about 24 thousand households of the eurozone.
What does the euro area consumer Economic Sentiment Indicator measure?
Euro Area Consumer Confidence In Euro Area, the Consumer Economic Sentiment Indicator measures the level of optimism that consumers have about the economy. The survey is made by phone and covers 23 000 households in the Euro Area. The number of households sample varies across the zone.