The Employment Cost Index, or ECI, is a Principal Federal Economic Indicator produced from the National Compensation Survey (NCS). It measures changes in the hourly labor costs to employers, independent of employment shifts among occupations and industries. For example, these compensation costs changes are often expressed as “In December 2018, private industry wages and salaries grew 3.1 percent from the previous December.”Find out more »
The Index of Consumer Expectations, produced by the Surveys of Consumers, is included in the Leading Indicator Composite Index published by the U.S. Department of Commerce, Bureau of Economic Analysis. The inclusion of data from the Surveys of Consumers by the Commerce Department is a significant confirmation of its capabilities for understanding and forecasting changes in the national economy. Each series included in the composite Index of Leading Indicators is selected because of its performance on six important characteristics: economic significance, statistical adequacy, consistency of timing at business cycle peaks and troughs, conformity to business expansions and contractions, smoothness, and prompt availability. No other consumer survey meets these rigorous criteria.
The Index of Consumer Expectations focuses on three areas: how consumers view prospects for their own financial situation, how they view prospects for the general economy over the near term, and their view of prospects for the economy over the long term. The Expectations Index represents only a small part of the entire survey data that is collected on a regular basis.
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