Economy
February 28, 2017
Consumer Confidence in February 2017
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 February report made up the January decline and then some, the three month moving average (3MMA) has improved for nine consecutive months and 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.
