Consumer Confidence Index History
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.
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. Last verified: 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.