Consumer confidence indicators(CCI) serve as a veritable tool for providing useful information to policy makers … of consumers in their expectations about the general state of the economy, even if their pessimism were not based on … economic fundamentals. This study evaluated the predictive ability of the CCI in forecasting economic fluctuations in Nigeria …

disappointing promisees' expectations, regardless of whether those expectations were induced by a promise (expectations per se … effect). Third, they are even more motivated to avoid disappointing promisees' expectations when those expectations were …

performance in forecasting macroeconomic variables and in matching survey forecasts. Our results indicate a great degree of …. Calibrations to match survey forecasts are found to be lower than those derived according to the forecasting performance …