U.S. consumer confidence levels close to post-GFC peak

30 August 2017

 

Consumer confidence surveys are important private sector surveys even though economists view them as lagging indicators. Their importance lies in the confirmation of spending patterns. As consumption in developed countries may amount to 60%-70% of GDP, knowing how it is behaving is important for financial markets’ forecasts of GDP growth rates, which in turn flow into credit growth and inflation rates. The August reading of the Conference Board’s Consumer Confidence...

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