Richard Curtin. Image courtesy of D.C. Goings
ANN ARBOR, Mich-Consumer confidence continued to improve in January due to positive news about potential job gains, according to University of Michigan economist Richard Curtin, director of the Thomson Reuters/University of Michigan Surveys of Consumers. The Surveys, conducted by the U-M Institute for Social Research (ISR), have been monitoring consumer attitudes and expectations for over 60 years. The increase in confidence over the past five months has been substantial, with the Sentiment Index rising by one-third over the depressed August low caused by the Congressional debt debate debacle. "Despite this nascent trend toward optimism, the majority of consumers remain deeply skeptical about the prospective strength of the economy," said Curtin. "Although twice as many anticipated an improved near-term economic outlook compared with five months ago, consumers were no more likely to expect their financial situation to improve. Moreover, confidence in government polices remains near an all-time low. Every sustained recovery in the past half century has been foreshadowed by rising confidence in government economic policies." - "Although the current level of confidence has nearly regained its highest level since the recession, this is the third consecutive year that confidence has mounted a comparable rally," said Curtin.
TO READ THIS ARTICLE, CREATE YOUR ACCOUNT
And extend your reading, free of charge and with no commitment.
