Economy
January 31, 2017
Consumer Confidence 3MMA Best Since August 2001
Written by Peter Wright
The source of this data is the Conference Board with analysis by Steel Market Update. Please see the end of this piece for an explanation of the indicator.
The January report indicated a small decline from December but the three month moving average (3MMA) was the strongest since August 2001. Consumer confidence is the driver of consumer spending which is the largest component of GDP and which ultimately drives a large portion of steel consumption.
