Economy
May 27, 2014
Consumer Confidence Approaching Long Term Average
Written by Peter Wright
The consumer confidence index increased by 1.3 in May. The view of the present situation rose by 1.9 as expectations rose by 0.9. These two components are converging, as they always do at this stage of a recovery, after which the view of the present situation will take the lead. On the whole consumer confidence is now approaching the long term average since 1980. The three month moving average (3MMA) of the composite rose by 1.6 and in this view the driver was entirely in expectations, (Figure 1).
