What does CCI mean in US Government?

Consumer confidence index

In the United States of America, the U.S. consumer confidence index (CCI) is an economic indicator published by The Conference Board to measure consumer confidence, which is defined as the degree of optimism on the state of the U.S. economy that consumers are expressing through their activities of savings and spending. Global consumer confidence is not measured. Country-by-country analysis indicates huge variance around the globe. In an interconnected global economy, tracking international consumer confidence is a lead indicator of economic trends.In the United States The Conference Board, an independent economic research organization, issues monthly measures of consumer confidence, based on 5,000 households. Such measurement is indicative of the consumption component level of the gross domestic product. The Federal Reserve looks at the CCI when determining interest rate changes, and it also affects stock-market prices. The consumer confidence index started in 1967 and is benchmarked to 1985 = 100. This year was chosen because it was neither a peak nor a trough. The index is calculated each month on the basis of a household survey of consumers' opinions on current conditions and future expectations of the economy. Opinions on current conditions make up 40% of the index, with expectations of future conditions comprising the remaining 60%. In the glossary on its website, The Conference Board defines the Consumer Confidence Survey as "a monthly report detailing consumer attitudes and buying intentions, with data available by age, income and region". Another well-established index that measures consumer confidence in the United States of America is the University of Michigan Consumer Sentiment Index, run by University of Michigan's Institute for Social Research.

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