Wednesday, September 26, 2012

Consumer Confidence Inches Upward

There was a significant jump in the consumer confidence figures released yesterday, as the Consumer Confidence Index reached its highest level in seven months. Nearly every aspect of the index showed improving conditions, a marked change from August, when the confidence reading fell.

At the same time, a closer look at the numbers shows that this economy is still a long way from where consumers would like it to be. The number of people saying that jobs are plentiful rose - but still just 8.3 percent of the respondents said that, up from 7.2 percent in August. Likewise, the percentage of people saying that jobs are hard to get also declined - from 40.6 percent in August to 39.9 percent in September.

At least the trends are all in the right direction. And there was another, longer-ranging piece of good news regarding America's consumer habits: The Labor Department reported that the average American household spent $49,705 in 2011, up 3.3 percent from 2010 and the highest level we've seen since 2008.

No comments:

Post a Comment