ABC Weekly Consumer Confidence has flatlined, and not only is it down to -49 from last month's reading of -47, it is at exactly the same place it was two months ago.
Declining levels of consumer comfort usually accompany any fall in income and wages and precede drops in consumer spending. A low or falling ABC Consumer Comfort value is considered an early indicator of an economic downturn. As a result, investors, retailers and traders alike all watch the figure for insight into the general health of the economy.
Note: The index incorporates the most recent week's data with the results of the past three weeks, yielding a rolling four week average. Results are calculated as the difference in percent of positive and negative numbers.
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