This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The Conference Board will be releasing the monthly consumer confidence index data today.
A measure of how American consumers feel, the consumer confidence index is a closely watched report.
Typically, stronger levels of confidence translate to higher consumption. The US economy is a domestic-demand and consumption-driven economy. Therefore, the CB data will give economists a glimpse into the sentiment and thus potential expectations on growth.
The consumer confidence index from the Conference Board is one of the many forward-looking indicators focusing on consumer sentiment. For this year, consumer confidence rose to highs of 135.7 in July.
Economists forecast that the consumer confidence index will rise to 128.2 for October. It marks a modest rebound from September’s drop to 125.1. The index started the year on a sour note. In January, the index was at 120.2. But, since then, there has been a steady increase.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.