28 June 2011
The consumer confidence index shows how citizens feel about the business conditions, the job market and what they expect from the next six months.
That’s why economists always keep an eye on it. Moreover, the consumer spending stands for 70% of all U.S. economic activity.
“It seems that housing is still the weakest side of our homeowners, and it significantly affects the confidence and consumer spending,” – BMO Capital Markets’ senior economist Jennifer Lee noted.