Index of Current Economic Conditions (ICC)

Steps to calculate ICC are:
  • Compute relative scores (per cent giving favourable replies minus per cent giving unfavourable replies, plus 100) for Q1 (Compared to a year ago, how is your family faring financially these days?)
    and Q5 (Do you think that this is generally a good or bad time to buy things like furniture, refrigerator, television, two-wheeler, car?)
  • Round the relative scores to the nearest whole number.
  • Sum both rounded relative scores.
  • Divide the Sum by the base period index.
  • ICC = (Q1 + Q5 / Base Index) * 100