Saturday, March 31, 2012
USA Consumer Confidence Dips on Dampened Short-Term Outlook
The Conference Board: Consumer Confidence Index
USA Consumer Confidence The March 2012 Consumer Confidence Index dipped -1.4 to 70.2 (preliminary), still relatively positive. The post-recession high has been 72.0 in February 2011. This reading is well above the dismal October reading of 40.9, which was a 30-month low, the lowest since April 2009. Compared to the Pre-Great Recession peak of 111.9 in July 2007 consumer confidence continues at historically low levels regardless of the monthly ups and downs. Says Lynn Franco, Director of The Conference Board Consumer Research Center, "Consumer Confidence pulled back slightly in March, after rising sharply in February. The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve."
Consumer Confidence Index by Month The Consumer Confidence Index (CCI) reached a Post-Great Recession peak of 72.0 in February 2011. The Great Recession cyclical low was 25.3 in February 2009. The Pre-Great Recession peak was 111.9 in July 2007.
Consumer Confidence Index by Year For each year, the related months are averaged. The Great Recession low was in 2009 at a 45.2 average and the Post-Great Recession peak has been 2011 at a 58.2 average, which is a 4-year high. For the 3 months ended March 2012, consumer confidence is at a 5-year high of 67.8.