After reading the ominous, attention-getting headline “Consumer Confidence Hits 6 Month Low” by a housing publication, I thought “better to share the bigger picture.” So here it is.
10 years of consumer confidence
As people need to feel confident before investing in large purchases, like new homes, consumer confidence is a topic worthy of discussion. The graph below provides a perspective using the U.S. Consumer Confidence Index over the past tumultuous decade.
Some of the major events of the era are noted to illustrate their effects on how people feel. For example, when the US experiences a new war, natural disaster, or other severe crisis, the index gauges the reaction and eventual recovery. What it doesn’t show is how this process changes people.
Key Take-away: Today, the larger picture shows consumer confidence slowly, hesitantly trending up. (click the graphic to enlarge)
Worth Visiting: The Conference Board