Consumer Nation: Can Confidence Drive the Economy?
With the 2018 Christmas Holiday Shopping Season in Full Swing, Craig Siminski, of Equity Design Group, shares with us a timely article on Consumer Confidence:
In October 2018, The Conference Board Consumer Confidence Index® reached its highest level since September 2000, despite a steep stock market slide and potential headwinds from inflation and rising interest rates. Another measure, the University of Michigan Index of Consumer Sentiment, has also remained higher in 2018 than in any year since 2000.
Confidence dropped slightly in November, but remained at elevated levels not seen since the dot.com boom. However, all three major stock market indexes fell into negative territory for the year on November 20. So it’s uncertain how long consumers will remain unruffled by market volatility.
Present and Future Conditions
The Consumer Confidence Index is derived from a questionnaire sent each month to more than 3,000 U.S. households.
The survey asks consumers to rate current business and employment conditions in their regions and expectations for future conditions (six months hence) for business, employment, and household income. It also asks about plans for…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 20 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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