Latest statewide snapshot shows positive
signs as holiday shopping season approaches
MURFREESBORO,
Tenn. — The most recent statewide survey of Tennessee consumers by MTSU’s
Office of Consumer Research indicates the economic outlook has rebounded from a
slight decline earlier this year.
The Tennessee
Consumer Outlook Index rose to 157 from 123 in June based on “more positive
perceptions of the current economy and growing optimism about the future of the
economy,” noted Tim Graeff, director of the Office of Consumer Research in
MTSU’s Jones College of Business.
“For
the first time since this survey began in September 2015, a greater percentage
of consumers have positive views of the current economy than have negative
views,” Graeff said. “This suggests consumers believe the economy is turning in
a positive direction.”
The
current survey of 620 Tennessee consumers was conducted between Sept. 1-11 with
a margin of error of 4 percentage points. The quarterly survey consists of a series of
questions that measure areas such as how consumers feel about the local, state
and national economies as well as their personal financial situations and the
job market.
Other
September report highlights:
• Tennessee
consumers are increasingly more upbeat about the job market and the
availability of jobs.
• Expectations
for the future job market also improved. (This improved outlook for the
job market mirrors the recent drop in unemployment rates for the nation and for
Tennessee.)
• There
was also a net increase in the percent of consumers who expect to increase
their spending this year compared to last year.
“Additionally,
a more positive outlook regarding the job market could help to lay the
foundation for increased consumer spending as we head into the ever-important
holiday shopping season,” Graeff added. “Taken together, these results are good
news for businesses and retailers.”
In addition to tracking an overall
index, the survey includes sub-indices that measure consumers’ views on their
current financial situations, future expectations and purchasing plans.
You can
find the full latest report, which has breakdowns by geographic region, and
previous reports at http://mtsu.edu/consumer/tnoutlookreports.php.
For more information,
contact Graeff at 615-898-5124 or Tim.Graeff@mtsu.edu.
Or visit www.mtsu.edu/consumer.
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