the following data show the consumer confidence index on spending money on essential and the non- essential goods over a period of five year write an analytical paragraph comparing and analysing the given below
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Answer:
Explanation:
Consumer confidence, measured by the Consumer Confidence Index (CCI), is defined as the degree of optimism about the state of the economy that consumers (like you and me) are expressing through their activities of saving and spending. The CCI is prepared by The Conference Board and was first calculated and benchmarked in 1985. This value is adjusted monthly based on the results of a household survey of consumers' opinions on current conditions and future economic expectations.2 Opinions on current conditions make up 40% of the index, with expectations of future conditions comprising the remaining 60%.3
On its website, The Conference Board defines the Consumer Confidence Survey as a "monthly report [detailing] consumer attitudes and buying intentions, with data available by age, income, and region."2 In the most simplistic terms, when their confidence is trending up, consumers spend money, indicating the sustainability of a healthy economy. When confidence is trending down, consumers are saving more than they are spending, indicating the economy is in trouble or in the process of contracting further. Essentially, the more confident people feel about the stability of their incomes, the more likely they are to maintain, or increase, their spending patterns.
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