The polls-review: The usefulness of consumer sentiment: Assessing construct and measurement

Paul M. Kellstedt, Suzanna Linn, A. Lee Hanah

Research output: Contribution to journalArticle

13 Scopus citations

Abstract

Given the scholarly and popular prominence of the concept of consumer confidence, it is striking that there are no examinations of the quality of the most commonly used measure of the concept - the University of Michigan's Index of Consumer Sentiment (ICS). In this study, we assess the usefulness of consumer sentiment as a construct and a measure (or measures). We also identify the best way to consider its role in consumer behavior. This brings us to a consideration of fundamental questions about the reliability and validity of consumer sentiment measures. Our purpose is to provide evidence on this score. Our analyses suggest that the ICS is a reliable indicator of consumer confidence. The measure exhibits substantial face validity, but the index itself (though not its components) falls short in terms of its predictive validity with regard to spending on durable goods.

Original languageEnglish (US)
Pages (from-to)181-203
Number of pages23
JournalPublic Opinion Quarterly
Volume79
Issue number1
DOIs
StatePublished - 2015

All Science Journal Classification (ASJC) codes

  • Communication
  • History
  • Sociology and Political Science
  • Social Sciences(all)
  • History and Philosophy of Science

Fingerprint Dive into the research topics of 'The polls-review: The usefulness of consumer sentiment: Assessing construct and measurement'. Together they form a unique fingerprint.

  • Cite this