From the course: Economics for Business Leaders
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The importance of consumer and business confidence
From the course: Economics for Business Leaders
The importance of consumer and business confidence
- Economies grow when consumers and business leaders feel confident. After all, confident consumers are out there spending and confident business leaders are out there making investments to help their organizations grow. The fact that confidence turns into economic growth and growth turns into both top line revenue and bottom line profits shouldn't be a surprise. And it's the reason that business leaders very closely watch consumer confidence and business confidence data. Not surprisingly, there are many different measures of business confidence and consumer confidence and they vary greatly across economies. In the United States for example, the Conference Board's measure of consumer confidence is the most critical confidence data point for leaders and decision makers. Of course, this makes sense since consumption is around 70% of the entire US economy. In the Eurozone, the German ifo Business Climate Index is the most…
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