How consumer sentiment and attitudes predict the economy

Everyone loves surveys. At the University of Michigan, Joanne Hsu is the Director of the Surveys of Consumers at the Institute for Social Research and describes how the surveys are based on a nationally representative sample of households in the contiguous U.S. and have long stressed the influence of consumer spending and saving decisions in determining the course of the national economy.

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[timothyernest]

The University of Michigan Consumer Confidence Index is and has always been arguably the single most important and honest and accurate economic indicator telling the business world not only "what is" but what will" likely be".