2011 Economic Calendar
POWERED BY  econoday logo
Resource Center »  Event Release Dates   |   Event Definitions   |   Today's Calendar

Consumer Confidence
Released On 2/22/2011 10:00:00 AM For Feb, 2011
PriorPrior RevisedConsensusConsensus RangeActual
Consumer Confidence - Level60.6 72 65.0 60.0  to 70.0 70.4 

Highlights
Big upward revisions to an already accelerating consumer confidence report point to a pivot higher for the consumer sector. The Conference Board's index rose to 70.4 in February for the best reading in three years. January was revised more than four points higher to 64.8.

The assessment of the jobs market definitely improved. On the current assessment, a reading that offers an indication on the monthly employment report, fewer consumers in February said jobs are hard to get, at 45.7 percent vs January's 47.0 percent. On the outlook, substantially fewer consumers, at 15.4 percent vs January's 21.2 percent, see fewer jobs six months from now. In a partial offset, fewer consumers see more jobs ahead, 19.8 percent vs January's 20.8 percent.

Upward revisions are especially striking in the assessment of future income which before this report had been in unprecedented inversion, that is more saw their income decreasing than increasing. Not anymore as 17.3 percent of the roughly 3,000 initial sample see their income improving vs 13.8 percent seeing a decrease. Revisions now show the inversion reversing back in December.

The prospect of future income is a critical assessment when making decisions on discretionary purchases. Revisions now show big gains for buying plans especially for cars and appliances. Home buying plans are still depressed but a little less depressed.

However weak job growth has been, consumers have a new upbeat, or that is less downbeat, attitude. The overall index typically moves into the 80s when optimism is greater than pessimism.

Market Consensus before announcement
The Conference Board's consumer confidence index jumped more than seven points in January to 60.6 with those saying jobs are currently hard to get falling more than 2-1/2 percentage points to 43.4 percent for the best reading in two years.

Definition
The Conference Board compiles a survey of consumer attitudes on the economy. The headline Consumer Confidence Index is based on consumers' perceptions of current business and employment conditions, as well as their expectations for six months hence regarding business conditions, employment, and income. Three thousand households across the country are surveyed each month. In general, while the level of consumer confidence is associated with consumer spending, the two do not move in tandem each and every month.  Why Investors Care
 
[Chart]
Typically retail sales will move in tandem with consumer optimism - although not necessarily each and every month.
Data Source: Haver Analytics
 

 

2011 Release Schedule
Released On: 1/252/223/294/265/316/287/268/309/2710/2511/2912/27
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


powered by  [Econoday]