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Consumer sentiment and buying intentions revisited: a comparison of predictive usefulness |
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| Affiliation: | 1. Department of Economics, Bentley University, 175 Forest Street, Waltham, MA 02452, USA;2. Research Division, Federal Reserve Bank of St. Louis, P.O. Box 442, St. Louis, MO 63166, USA;3. Department of Economics and Finance, University of North Carolina at Wilmington, 601 South College Road, Wilmington, NC 28403, USA |
| Abstract: | This article re-examines the controversial issue of the usefulness of attitudinal indices as leading indicators of consumer durable expenditures. First a cross-validation is performed using the two most popular indices of consumer sentiment (Survey Research Center and Conference Board). The usefulness of these indices is then tested using a more recent methodology for time-series analysis. |
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