Direct Answer
The Conference Board Consumer Confidence Index measures household sentiment about current economic conditions and expectations. Historically centered around 100, it fell to 25.3 in February 2009 (Great Recession) and 84.8 in April 2020 (COVID shock). A strong consumer confidence reading (above 120) typically signals robust spending; below 80 signals recessionary risk. As of mid-2024, the index was approximately 100-105.
Consumer Confidence Index History
Conference Board Consumer Confidence Index (Year End, Selected Years)
| Year | CCI (Year End) |
|---|---|
| 2000 | 128.6 |
| 2001 | 94.6 |
| 2003 | 90.1 |
| 2007 | 90.6 |
| 2008 | 38.6 |
| 2009 | 52.9 |
| 2010 | 52.5 |
| 2012 | 66.7 |
| 2014 | 93.1 |
| 2016 | 113.3 |
| 2017 | 122.1 |
| 2018 | 128.1 |
| 2019 | 126.8 |
| 2020 (COVID) | 87.1 |
| 2021 | 115.2 |
| 2022 | 108.3 |
| 2023 | 110.7 |
| 2024 est. | 103 |
Source: The Conference Board: Consumer Confidence Survey. Data through 2024; last checked September 2026.
Frequently asked questions
How does consumer confidence affect the stock market?
Consumer confidence is a leading indicator for consumer spending, which represents approximately 70% of U.S. GDP. Stock markets often move in advance of consumer confidence changes: markets predict future economic conditions while confidence surveys reflect current or recent experience. When confidence is high, consumers spend more freely, supporting retail sales and corporate revenues. When confidence falls sharply (as in 2008-2009 and 2020), it signals likely spending contractions that hurt consumer discretionary stocks. However, consumer confidence has false signals: the 2022 UMCSI reached all-time lows while the economy remained technically strong, because respondents were angry about inflation despite solid employment.
What is the difference between current conditions and expectations?
The Conference Board CCI has two components: Current Conditions (assessment of the labor market and business conditions right now) and Expectations (outlook 6 months ahead). These often diverge. In 2022-2023, Current Conditions were relatively strong (tight labor market, strong income) while Expectations were weak (inflation fears, recession concerns). Stock markets tend to track the Expectations component more closely since they are forward-looking. The divergence between a strong Present Situation and weak Expectations in 2022-2023 contributed to market volatility.
Which consumer confidence index is more reliable?
The two major U.S. consumer confidence surveys are the Conference Board CCI and the University of Michigan Consumer Sentiment Index. Both are widely followed; neither is definitively superior. The Conference Board surveys 5,000 households monthly and focuses more on labor market conditions. Michigan surveys approximately 500 households twice monthly and focuses more on personal finances and inflation expectations. Michigan's surveys are published more frequently (preliminary then final each month), giving them slightly more market-moving impact. Academic research has not conclusively shown one predicts consumer spending better than the other.
Worked Example: Reading the Thresholds Off the Table
The Direct Answer gives two reference levels: above 120 as robust, below 80 as recessionary risk. Applied to the year-end readings above, four year-ends sit above 120 (2000 at 128.6, 2017 at 122.1, 2018 at 128.1, 2019 at 126.8) and four sit below 80 (2008 at 38.6, 2009 at 52.9, 2010 at 52.5, 2012 at 66.7). The two largest one-year falls are 2007 to 2008, from 90.6 to 38.6, a drop of 57%, and 2019 to 2020, from 126.8 to 87.1, a drop of 31%.
The two episodes recovered on different clocks. After 2008 the index did not regain 100 at a year-end in the table until 2016, eight years later, even though the recession ended in 2009. After 2020 it was back at 115.2 by the end of 2021. A reader using the table to judge a current reading should therefore compare it with the component the FAQ describes (expectations versus present situation) and with the prior year-end, not only with the 100 baseline: 2000's 128.6 was a year-end high that preceded a recession, and 2012's 66.7 came three years into an expansion.
Cite This Page
If you reference this table in your own work, use the following citation format and add the date you accessed it:
Swoopr Editorial Team. (2026). Consumer Confidence Index History. Swoopr Investment. https://www.getswoopr.com/tables/economy/consumer-confidence-history/
Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised.