Langer Research Associates today presented a study evaluating the predictive validity of the weekly Bloomberg® Consumer Comfort Index™ in relation to personal expenditures and stock market values. The paper found that the CCI improves the traditional model for predicting personal expenditures, and substantially outperforms a buy-and-hold strategy in a variety of hypothetical stock investments for the period tested.
The paper, presented at the annual meeting of the American Association for Public Opinion Research in Anaheim, California, is available here, the presentation slides are here and details on the CCI are here.