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Consumer Confidence

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Submitted By lena978742
Words 254
Pages 2
Lena Grullon
Macroeconomic Paper
5/1/2013
Consumer Confidence
Bloomberg Economic Calendar On 4/30/2013 at 10:00 AM, the Bloomberg Economic Calendar released the Consumer Confidence Index. The Conference Board “compiles a survey of consumer attitudes on the economy” and includes a survey of three thousand households across the country each month. Consumer confidence focuses on the household sector’s general perception of the economy. Consumer confidence “affects consumer spending decisions such that decreases in confidence might make consumers restrain their spending, endangering the recovery from a recession or helping on to occur (Farnham 319).” The confidence level of households affects the economy because the more confident a consumer is, the more likely they are to spend money. If households are not feeling confident about the economy, the consumer is more likely to save money and decrease consumption. According to this survey, Consumer Confidence level has risen from 59.7 to 68.1. This gain is said to be due to recovery expectations. An increase in consumer confidence causes an increase in the aggregate demand curves which is a shift to the right. Although consumer confidence has increased, a sub-index shows that 37% of consumers say that jobs are harder to find which an increase from 35.4% in March. This is a high percentage compared to other months and could possibly decrease the Consumer Confidence Index in the following months. A few other factors that have decreased the CCI include higher payroll taxes, high gas prices, and uncertainty over sequestration.…...

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