Latest statewide snapshot shows consumers
optimistic about economic conditions
MURFREESBORO,
Tenn. — The most recent statewide
survey of Tennessee consumers by MTSU’s Office of Consumer Research indicates
the uptick in optimism continues this holiday shopping season.
The Tennessee Consumer Outlook Index rose to 185 in December, up from 157
in September and 123 in June.
“Although expectations for the
future of the economy have moderated slightly, more positive perceptions of the
current economy and increasing beliefs that now is a good time to make large
purchases have lifted consumers’ outlook,” noted Tim Graeff, director of
the Office of Consumer Research in MTSU’s Jones College of Business.
“Improving consumer outlook comes at a good
time, as many businesses and retailers rely on strong holiday sales to make up
for any downturns in sales during previous times of the year.”
The current survey of 630 Tennessee consumers
was conducted Dec. 1-7 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 December report highlights:
• For holiday spending, the majority (71 percent) of Tennesseans expect
to spend either “more” (22 percent) or “about the same” year (49 percent) as
they spent last. Meanwhile, 26 percent expect to spend “less than they spent
last year.”
• Tennessee consumers
continue to feel better about the state’s economy compared to the national
economy.
• Overall, perceptions of
the job market remained relatively steady.
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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