The Michigan Consumer Confidence is released with three measures that cover sentiment, conditions, and expectations: Index of Consumer Sentiment (ICS): The headline number with the main result, how is the feeling of the consumer. Index Current Economic Conditions (ICC): The component of how people think the economy is doing at that moment.
What is the Michigan Consumer Sentiment Index?
The Michigan Consumer Sentiment Index was created in the 1940s by Professor George Katona at the University of Michigan's Institute for Social Research. His efforts ultimately led to a national telephone survey conducted and published monthly by the university.
What is Consumer Confidence Index?
These indices play a unique role in determining public policies as well as business decisions. Consumer confidence index defines the degree of optimism on the current state of the economy that consumers are expressing through their activities of saving and spending which lead to economic growth of the country.
