How do they come up with their "report" over consumer confidence?
why are they the ones?
why do people pay them so much attention?
2007-03-02 02:55:50 · 2 answers · asked by Charles R 1 in Business & Finance ➔ Investing
The U of M Consumer Sentiment Index has a long track record of accuracy due to its info gathering and processing.
It's not the only index out there, but it is certainly one of the more relied-upon.
2007-03-02 03:10:08 · answer #1 · answered by CMass Stan 6 · 0⤊ 0⤋
So many questions, so little time... :)
How does UMich come up with the report? By polling a sufficiently large random sample of consumers.
Why is their report considered the best? Because they have the longest track record and a very good grasp of statistics needed to do this kind of research.
Why do people pay attention? Well, imagine you are the CEO of a large company producing consumer durables. Would you pay attention to how people feel about buying your product in the next three months?
2007-03-02 12:07:38 · answer #2 · answered by NC 7 · 0⤊ 0⤋