The Consumer Bankers Association and AOL Inc. have launched the Finance Optimism Index, a “litmus test of how people feel about their own personal financial situation” based on current economic and political events, said Paul Kadin, AOL’s head of category development, at the CBA Live conference this week.
In February, the index clocked in at -2.6, down from +4 in January, possibly the result of slow growth in the stock market and rising gasoline prices. Negative index values indicate that more respondents feel pessimistic than optimistic about their financial future. CBA plans to use the data to find ways to improve consumers’ financial wellbeing, while AOL intends to use it to offer content and tools to marketers.
Index results will be reported midmonth at www.financeoptimism.org.