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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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The Conference Board compiles a survey of consumer attitudes on present economic conditions and expectations of future conditions. Five thousand consumers across the country are surveyed each month. 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
| Released on 12/28/06 For Dec 2006 | ||||||||||||
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Highlights
Temperatures have been on the rise this December and so has consumer confidence according to the Conference Board's monthly report that showed a 109.0 reading in December vs. 105.3 in November and 103.8 in December last year, a year-on-year comparison of interest to gauge holiday spending spirits. Confidence in both the present situation and in the future outlook, the two sub-indexes that make up the main index, both showed gains.
Perhaps the biggest news in the report was a sharp uptick in the assessment of the jobs market. Those saying jobs are hard to get, a closely watched category used as a barometer for the monthly unemployment rate, fell a sizable 9 tenths to 21.2 percent. Those saying jobs are plentiful rose an even more sizable 1.2 percentage points to 26.9 percent.
The report also included a slight rise in 12-month inflation expectations to 4.8 percent from 4.6 percent, a gain perhaps in keeping with expectations for stronger economic activity.
This morning's data were definitely on the strong side, showing a rise in consumer spirits, a gain in existing home sales, and gains in Chicago area business activity. The data set the stage for strong showings in next week's indicator batch that include the employment report.
The Conference Board's consumer confidence index slipped to 102.9 in November from 105.1 in October. Even though consumer spending has been strong, the Conference Board's index suggests that strength in the consumer sector is tenuous. Job market readings and buy plans for autos were notably soft. Markets will continue to watch the inflation expectations series, which has eased a little in recent months with a reading of 4.7 percent most recently.
Consumer confidence Consensus Forecast for December 06: 101.0
Range: 101.0 to 104.0
![[Chart]](chart.gif)
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Typically retail sales will move in tandem with consumer optimism - although not necessarily each and every month. |
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