This monthly survey series was undertaken to measure changes in consumer attitudes and expectations, to explain why such changes occur, and to evaluate how these changes relate to consumer decisions to save, borrow, or make discretionary purchases. This type of information is also used for forecasting changes in aggregate consumer behavior. Each monthly survey probes a different aspect of consumer confidence. Open-ended questions are asked concerning evaluations and expectations about personal finances, employment, price changes, and the national business situation. Additional questions are asked each month.
Demographic information includes ethnic origin, sex, age, and education.
The Surveys of Consumer Attitudes and Behavior were initiated in the late 1940s by the Survey Research Center under the direction of George Katona and have been carried out quarterly through 1977 and monthly thereafter. The purpose of these surveys is to measure changes in consumer attitudes and expectations, to understand why these changes occur, and to evaluate how they relate to consumer decisions to save, borrow, or make discretionary purchases. Changes in consumers' willingness to buy are best assessed by making use of the answers to all questions asked in the surveys, especially the open-ended questions that probe underlying reasons. Nevertheless, in order to make available a summary measure of change in consumer sentiment, the Survey Research Center uses the answers to five questions to calculate an Index of Consumer Sentiment. The surveys use a national sample of dwelling units selected by area probability sampling that is representative of the adult population of the United States.