Consumer confidence: No great expectations

March 01, 2001 |

The Conference Board's Consumer Confidence Index (CCI) fell by 3.2 percent between November and December of 2000, after declining by a cumulative 7.3 percent over the previous four months. With a December 2000 CCI reading of 128.3-where average confidence during 1985 equals 100-the composite CCI was 9.5 percent lower than during December 1999.

The CCI component for future expectations, defined as six months out, fell by a sharp 5.3 percent between November and December-17.3 percent lower than three months earlier.


Commercial, industrial & institutional (CII) construction spending (Billions of current dollars)



Spending in November 2000 Percent change from November 1999 Spending in Jan.-Nov. 2000 Percent change from Jan.-Nov. 1999 1999 total spending Annual Percent Change 1999 2000 2001


CII total


$26.84


13.9%


$279.85


11.5%


$273.47


3.6%


10.2%


3.7%


Commercial



11.36



7.6



120.74



9.9



119.65



8.1



9.0



2.2


Office


4.74


19.8


48.96


14.3


46.57


10.3


12.7


7.1


Retail


5.22


-1.3


56.55


8.0


57.14


6.6


8.8


-3.7


Hotel/motel


1.40


6.9


15.23


4.1


15.94


7.6


2.6


-2.4



Industrial



4.17



49.2



37.08



15.9



34.90



-13.8



13.7



5.5



Institutional



11.31



10.7



122.03



11.8



118.92



5.4



10.3



4.7


Health care


1.74


12.1


18.01


11.9


17.59


-0.6


11.7


2.2


Education


4.94


20.2


53.78


18.0


49.51


7.8


16.3


9.5


Other institutional


4.62


1.7


50.25


5.9


51.82


5.3


6.1


4.4



Multifamily



2.40



5.4



25.79



2.9



27.26



10.9



0.8



3.7


Source: U.S. Department of Commerce; forecast: Cahners Economics

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