Consumer-Confidence Data Useless, Study Says

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Consumer confidence indexes move stock markets and alter economic outlooks, but they’re useless for forecasting Americans’ spending patterns, a new study says.


The two indexes from the University of Michigan and the Conference Board may reveal the mood of Americans when they are surveyed, but they don’t predict whether people will spend more or less, said Dean Croushore, an economics professor at the University of Richmond.


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