Garrett, Thomas A.; Hernández-Murillo, Rubén; Owyang, … - Federal Reserve Bank of St. Louis - 2004
that by restricting our attention to fluctuations in retail sales that occur at the business cycle frequency we can uncover … occur at the
business cycle frequency we can uncover a significant relationship between
consumer sentiment and retail …
business cycle. The analysis uses the two most common measures of consumer sentiment—the ICS
and the CCI. Each index is …