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2009 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 11/29/05 For Nov 2005 | ||||||||||
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Highlights
Consumer confidence soared in November in what may prove a small splash for the financial markets. The Conference Board's index jumped to 98.9 from 85.2 in October. Big month-to-month swings in the data do happen, but this one is especially large.
Lower gas prices are certainly a big factor behind the improvement but the Conference Board doesn't ask questions tied to gasoline, only set questions on the jobs market, income, and buying plans. Those saying jobs are hard to get fell a very sharp 2.1 points to 23.2%, though those saying jobs are plentiful edged up only 1 tenth to 20.8%.
Buying plans were mixed with a sharp month-to-month gain for major appliances but a sharp fall for cars. Buying plans for homes rose solidly.
The Conference Board's stronger-than-expected report was accompanied at 10:00 ET by a surprising jump in new home sales, both bad news for the bond market which was on the slide. The dollar firmed in reaction to the data.
Confidence data don't necessarily point to gains for retail sales -- but lower gas prices do, as does the ability and willingness of retailers to offer sizable discounts this season.
The Conference Board's consumer confidence index decreased again in October, but perhaps we will see a turnaround in November. Two or three other consumer attitude surveys have improved in November.
Consumer confidence Consensus Forecast for Nov 05: 90
Range: 88 to 92
![[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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