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On August 25, 2020, the Conference Board, which is a New York research organization, announced that its Consumer Confidence Index had declined to 84.8, which is its lowest level since May 2014. This follows a drop to 91.7 in July.
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The '''consumer confidence''' index is a monthly survey of [[public]] [[attitude]]s towards the [[economy]].  It is compared to the optimism of the nation in 1985, which was arbitrarily given a score of 100.<ref>http://www.investopedia.com/articles/05/010604.asp#axzz2JOM76wtf</ref>  Hence a score below 100 means the public is less confident about the economy, while a score above 100 means the public is more confident. The highest ever recorded response to the consumer confidence index was a 144.7 in January, 2000 during the presidency of [[Bill Clinton]],<ref name="ccirecords">http://www.pollingreport.com/consumer.htm#Conference</ref> with 54% of the households surveyed describing employment opportunities as "plentiful".<ref>https://www.nytimes.com/2000/01/26/news/26iht-usecon.2.t_5.html</ref> By contrast, the lowest ever recorded on the consumer confidence index was a 25.3 in February, 2003 during the [[George W. Bush]] administration.<ref name="ccirecords"/>
 
The '''consumer confidence''' index is a monthly survey of [[public]] [[attitude]]s towards the [[economy]].  It is compared to the optimism of the nation in 1985, which was arbitrarily given a score of 100.<ref>http://www.investopedia.com/articles/05/010604.asp#axzz2JOM76wtf</ref>  Hence a score below 100 means the public is less confident about the economy, while a score above 100 means the public is more confident. The highest ever recorded response to the consumer confidence index was a 144.7 in January, 2000 during the presidency of [[Bill Clinton]],<ref name="ccirecords">http://www.pollingreport.com/consumer.htm#Conference</ref> with 54% of the households surveyed describing employment opportunities as "plentiful".<ref>https://www.nytimes.com/2000/01/26/news/26iht-usecon.2.t_5.html</ref> By contrast, the lowest ever recorded on the consumer confidence index was a 25.3 in February, 2003 during the [[George W. Bush]] administration.<ref name="ccirecords"/>
 
This monthly report is watched closely by stock market traders and politicians.
 
This monthly report is watched closely by stock market traders and politicians.
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[[Category:Economics]]
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Consumer spending accounts for 70% of the overall economy activity, and thus a decrease in consumer confidence is detrimental to the [[economy]].
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On August 25, 2020, the Conference Board, which is a New York research organization, announced that its Consumer Confidence Index had declined to 84.8, which is its lowest level since May 2014.  This follows a drop to 91.7 in July.
    
==References==
 
==References==
 
{{reflist}}
 
{{reflist}}
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[[Category:Economics]]
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