3 years ago
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What is Consumer Confidence?
Since consumer spending drives two-thirds of GDP, this matters. The consumer confidence index surveys 3,000 randomly selected people and asks them 1) what they think economic conditions are right now, and 2) what they think economic and employment conditions, and their family income, will be like 6 months from now. These components are then averaged together. This data is compiled relatively quickly, making it an early signal on how the economy is doing for that month.
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