Economy
March 31, 2015
Consumer Confidence 3MMA Composite Rises for 15th Straight Month
Written by Peter Wright
The consumer confidence index as reported by the Conference Board increased in March and February’s disappointing decline was lessened by an upward revision. In March the composite value which combines the view of the present situation and expectations rose from 98.8 to 101.3.
The view of the present situation fell from 112.1 to 109.1 (but the three month moving average (3MMA) continued to increase) and expectations rose from 90.0 to 96.0. The 3MMA of the composite has risen for 15 straight months and in March rose from 98.6 to 101.3. This increase was driven by the consumer’s view of the present situation the 3MMA of which increased from 108.6 to 111.7. The 3MMA of the expectations component increased from 91.8 to 94.3. The 3MMA of the composite at 101.3 is now well above the 35 year average which stands at 90.6 since 1980. The historical pattern of the 3MMA of the composite, the view of the present situation and expectations are shown in Figure 1.
