Latest statewide snapshot shows West
Tenn. with largest gains in economic perceptions
MURFREESBORO,
Tenn. — Tennessee consumers’ outlook on the economy has
leveled off a tad but remains strong, according to the most recent statewide survey by MTSU’s Office of Consumer Research.
The Tennessee Consumer Outlook Index dipped slightly to 238 this month,
down from 240 in March but still up substantially from 185 in December 2017.
“Consumers continue to feel more positive about the overall U.S. economy,
the Tennessee economy, and the current job market,” said Tim Graeff, director of the Office of
Consumer Research in MTSU’s Jones College of Business. “The largest
gains in outlook were in West Tennessee.”
You can find the full latest report, which has breakdowns by geographic
region, and previous reports at http://mtsu.edu/consumer/tnoutlookreports.php.
Graeff noted that consumers are also more optimistic about the outlook
for their personal financial situation and that overall survey results “show a
firm belief among consumers that the economy is on a solid footing.”
Other highlights:
- Consumers
expect the economy to either remain stable or improve in the next 12
months.
- Positive
views of the job market and increased confidence in future personal
finances and investments have helped buoy consumers’ outlook.
- Although
some consumers might forgo large purchases in order to increase saving or
reduce credit card debt, a growing percentage of consumers expect to
increase their spending in the future.
The current online survey of 630 Tennessee consumers was conducted June
11-16 and has an error margin of 4 percent. 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.
For more
information, contact Graeff at 615-898-5124 or Tim.Graeff@mtsu.edu. Or visit www.mtsu.edu/consumer.
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