top of page

Consumer Confidence Index as of March 2024

In this post, we explore the intricate details of the Consumer Confidence Index (CCI), offering a refreshed perspective on its past performance and future expectations, with a focus on the economic indicators and potential trends that influence consumer sentiment in the United States.

A Fresh Look at the Consumer Confidence Index for March 2024

Economic Overview and Consumer Sentiment Analysis

2024 Insights: The projected index value for the year is pinpointed at 106.7 points, illustrating a deep dive into the prevailing economic conditions.

Past Performance Review: Reflecting on the period from 2019 to 2024, there's a noted -3.59% compound growth, shedding light on the index's reactivity to various economic shifts.

Future Prospects: Projections for 2029 forecast an optimistic rise in the index to 125.9 points, buoyed by a 3.36% growth rate.

Understanding Current Trends

Historical patterns show the CCI's resilience through economic upheavals, like the aftermath of the dot com era and the 2008 financial downturn. The index's revival began in 2009, catalyzed by a more stable housing market and stock market recuperation. By 2010, an upward trend in consumer sentiment was evident, correlating with economic improvements and a 20% hike in the CCI from 2009.

In recent times, fluctuations in the index have been attributed to varying factors, including global trade dynamics, inflation concerns, and broader economic conditions. The year 2020 witnessed a 21.1% reduction in the index, primarily due to the COVID-19 pandemic's repercussions. The subsequent year, however, saw a resurgence with a 10.8% increase as vaccine distribution and economic openings gathered pace.

Economic Influences on Consumer Confidence

The year 2022 spotlighted the challenges posed by inflation and elevated living costs, prompting a quantitative tightening approach by the Federal Reserve. These economic adjustments, coupled with international situations like the situation in Ukraine, have had their imprint on consumer confidence.

The narrative in 2023 highlighted various economic factors, including Federal Reserve's policy tweaks. As we step into 2024, MMCG's forecasts suggest a cautious yet hopeful outlook for the CCI, influenced by expected shifts in interest rates and the potential impact of the national election

Survey-Based Insights and Prospective Outlook

The CCI, orchestrated by The Conference Board, leverages a comprehensive monthly survey that captures the essence of household financial outlooks and employment sentiments. Moving forward, the trajectory of the index is anticipated to mirror key economic and job market trends.

Anticipations for 2025 and Onward: Post-2025, with an anticipated policy adjustment from the Federal Reserve, the economic scene is poised for more stability, which in turn is expected to rejuvenate consumer confidence. Despite possible global economic fluctuations, the outlook for the domestic economy seems positive, with the CCI projected to incrementally ascend to a forecasted 125.9 points by 2029.

This revised narrative offers an in-depth exploration of the Consumer Confidence Index, acknowledging its dynamic nature influenced by domestic and global economic factors while projecting an optimistic yet measured view for its future progression.


bottom of page