Why US Consumer Confidence Is an Important Indicator
US consumer confidence
The US Conference Board Consumer Confidence Index fell in April 2017. The index was at 120.3 in April compared to 124.9 in March 2017. The April reading was below the market expectations of 122.9.
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The index showed a deceleration, which indicates consumers are concerned about the economy. Concern about the business climate, personal income, and labor market conditions increased. Consumers also remained cautious about near-term economic growth. Consumers hope that the decline in the index won’t harm economic growth.
Market participants are increasingly concerned about whether Trump’s policy decisions could impact global trade flows. The slowdowns in various economic indicators such as the inflation index, economic growth, and labor market conditions are increasing consumer concern about the economy (SPXL) (VOO) (IWM).
In the next part of this series, we’ll analyze the performance of the UK’s 1Q17 GDP.