MURFREESBORO — Midstate
consumers continue to gain a more positive outlook on the economy continues,
albeit slowly, according to the latest three-county survey by MTSU.
The overall consumer outlook index edged up to 199 in
September from 193 in April, according to the latest Middle Tennessee Consumer
Outlook Index released by MTSU’s Office of Consumer Research. That compares to
an index of 144 in February and 106 in November 2012.
“While significant gains in consumers’ outlook on the
economy were observed from November 2012 through April 2013, the current survey
reveals only a slight improvement in outlook from April to September of this
year,” stated Tim Graeff, director of MTSU’s Office of Consumer Research.
The current poll of 310 randomly selected adult residents of
Davidson, Rutherford and Williamson County was conducted Sept. 10-12. The
index is computed by adding the percentage of favorable responses to each of a
series of questions and subtracting the percentage of negative responses.
Consumers feel more positive about the current economy, even
though they are feeling a bit less optimistic about the future of the economy,
the survey revealed.
“Middle Tennessee consumers continue to view the local
economy more positively than they view the overall U.S. economy. However,
the largest drag on perceptions of the current economy is concerns about the
job market. Less than 10 percent of local consumers reported that jobs in
Middle Tennessee are ‘easy to find.’ Conversely, 29 percent reported that
jobs in Middle Tennessee are ‘hard to find,’” stated Graeff.
While the purchasing situation index was unchanged, the percentage
of consumers who expect to increase spending rose to 35 percent from 31 percent. In
addition, the percentage of consumers who expect to decrease spending dropped
to 20 percent from 28 percent.
“This is good news for local businesses and retailers,
especially as we look ahead to the ever important Christmas and holiday
shopping season,” Graeff stated.
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