What is the present status of consumer confidence as measured by the Conference Board’s index?
The most recent press release giving the status of the Consumer Confidence Index shows that consumer confidence is rising in the United States but is still somewhat lower than its average for the last 45 years.
According to the latest figures released by the Conference Board, the Consumer Confidence Index stands at 72.2. This is up from 68.4 in September. Of course, without some context, this number does not tell us anything. With the benefit of context, we can see that consumer confidence today is lower than average but that it is also much higher than it was at its lowest point soon after the financial crisis broke in late 2008.
For the past 45 years, the average value for the Consumer Confidence Index has been about 93. This means that we are significantly lower than average. However, the Index hit an all-time low in early 2009 that was around 25. When compared to that, consumer confidence has increased greatly.