Tuesday, July 27, 2021, 16:00
CB Consumer Confidence, USD
Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the economy’s overall state and personal financial situation. If the consumer has confidence in the immediate and near future economy and his/her personal finance, then the consumer will spend more than saving. Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Investors, manufacturers, retailers, banks, public opinion researchers, and government agencies use various assessments of consumer confidence in planning their actions. The ability to predict major changes in consumer confidence allows businesses to gauge the willingness of consumers to make new purchases. As a result, businesses can adjust their operations and the government can prepare for changing tax revenue
The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives the economic downturn. Generally, a high reading is also positive for the USD, while a low reading is negative.