MacroMonitor Survey Validation
A Comparison of the MacroMonitor with the Survey of Consumer Finances
Consumer Financial Decisions fields the MacroMonitor every two years. The Federal Reserve Board of Governors fields its Survey of Consumer Finances every three years. Following are comparisons of household incidences for major financial assets and debts from fieldings of both surveys in the same years. Incidence alignment provides external validation for both surveys and increases users' confidence in the accuracy of other MacroMonitor variables—such as attitudinal measures—for which external validation is not available.
Survey validation results are posted for years in which both surveys take place.
2016
Financial Service |
2016 Survey of Consumer Finances (Percent) |
2016–17 MacroMonitor (Percent) |
Checking or Savings Account |
98.0 |
92.8 |
Car or Truck |
85.2 |
72.6 |
Primary Residence |
63.7 |
63.8 |
Retirement Accounts |
52.1 |
59.3 |
Mortgage, Equity Loan, Line |
41.9 |
40.0 |
Credit-Card Balances |
43.9 |
47.5 |
Installment Loans |
50.2 |
43.4 |
Cash Value of Life Insurance |
19.4 |
19.4 |
Stocks |
13.9 |
17.1 |
Mutual Funds |
10.0 |
12.6 |
Certificates of Deposit |
6.5 |
10.3 |
Other Residential Property |
13.8 |
11.1 |
Business |
13.0 |
9.6 |
Non-Residential Property |
6.2 |
4.8 |
Loans on Investments |
1.8 |
2.0 |
Bonds |
1.2 |
1.3 |
2010
Financial Service |
2010 Survey of Consumer Finances (Percent) |
2010–11 MacroMonitor (Percent) |
Checking or Savings Account |
92.1 |
93.7 |
Car or Truck |
86.7 |
76.5 |
Primary Residence |
67.3 |
67.9 |
Retirement Accounts |
53.0 |
60.8 |
Mortgage, Equity Loan, Line |
48.7 |
46.3 |
Credit-Card Balances |
46.1 |
49.4 |
Installment Loans |
46.9 |
46.3 |
Permanent Life Insurance |
23.0 |
24.1 |
Stocks |
17.6 |
20.8 |
Mutual Funds (Pooled Investment) |
11.4 |
15.6 |
Certificates of Deposit |
16.1 |
19.9 |
Other Residential Property |
14.4 |
13.0 |
Business |
13.3 |
10.7 |
Non-Residential Property |
7.7 |
5.4 |
Loans on Investments |
6.8 |
5.8 |
Bonds |
1.6 |
3.5 |
2004
Financial Service |
2004 Survey of Consumer Finances (Percent) |
2004–05 MacroMonitor1 (Percent) |
1 Results derived from the General Population sample. |
Checking or Savings Account |
91.3 |
90.9 |
Car or Truck |
86.3 |
80.1 |
Primary Residence |
69.1 |
69.4 |
Retirement Accounts |
49.7 |
52.4 |
Mortgage, Equity Loan, Line |
47.9 |
43.4 |
Credit-Card Balances |
46.2 |
45.7 |
Installment Loans |
46.0 |
47.5 |
Permanent Life Insurance |
24.2 |
26.4 |
Stocks |
20.7 |
21.6 |
Mutual Funds (Pooled Investment) |
15.0 |
21.8 |
Certificates of Deposit |
12.7 |
15.1 |
Other Residential Property |
12.5 |
10.5 |
Business |
11.5 |
12.9 |
Non-Residential Property |
8.3 |
7.4 |
Loans on Investments |
7.6 |
8.4 |
Bonds |
1.8 |
3.0 |
1998
Financial Service |
1998 Survey of Consumer Finances (Percent) |
1998–99 MacroMonitor (Percent) |
Checking or Savings Account |
90.5 |
90.7 |
Car or Truck |
82.6 |
78.5 |
Primary Residence |
66.2 |
66.0 |
Retirement Accounts |
48.8 |
50.8 |
Mortgage, Equity Loan, Line |
43.1 |
42.9 |
Credit-Card Balances |
44.1 |
44.2 |
Installment Loans |
43.7 |
43.5 |
Permanent Life Insurance |
29.6 |
27.0 |
Stocks |
19.2 |
20.8 |
Mutual Funds |
16.5 |
19.4 |
Certificates of Deposit |
15.3 |
15.4 |
Business |
11.5 |
12.6 |
Loans on Investments |
8.8 |
6.4 |
Bonds |
3.0 |
4.6 |
1992
Financial Service |
1992 Survey of Consumer Finances (Percent) |
1992–93 MacroMonitor (Percent) |
Checking or Savings Account |
87.5 |
85.4 |
Car or Truck |
86.4 |
84.4 |
Primary Residence |
63.8 |
64.4 |
Retirement Accounts |
39.3 |
40.4 |
Mortgage, Equity Loan, Line |
38.7 |
34.1 |
Credit-Card Balances |
43.4 |
44.7 |
Installment Loans |
45.8 |
44.1 |
Permanent Life Insurance |
35.3 |
38.4 |
Stocks |
17.8 |
18.6 |
Mutual Funds |
11.2 |
13.9 |
Certificates of Deposit |
16.6 |
18.5 |
Business |
14.9 |
13.3 |
Loans on Investments |
8.3 |
5.8 |
Bonds |
4.7 |
5.8 |
For more information, please contact CFD.