10:20am

Mon February 10, 2014
Business

SURVEY: Sharp Rise in Mid-State Consumer Confidence

Credit mtsu.edu/consumer/

MURFREESBORO, Tenn. (WMOT)  --  A new survey suggests mid-state consumers are feeling more confident about the economy, but perhaps not confident enough to change their buying habits.

Middle Tennessee State University released its quarterly consumer survey late last week. The survey was conducted in late January and early February and questioned randomly selected residents in Davidson, Williamson and Rutherford Counties.

Survey Director Dr. Tim Graeff says Middle Tennessee consumer confidence is up significantly, rising from 122 points last quarter to 179 points in the most recent poll. He says that kind of jump would normally be good news for mid-state retailers.

“They view the economy as getting better and they’re more hopeful about the future of the economy, but I think we’ll just have to wait and see because a lot of consumers might still be hesitant about going out and spending a lot more money.”

Dr. Graeff says he’s encouraged by the fact that consumer confidence rose during the quarter in spite of a significant downturn in the stock market.

However, he says the index will need to rise at least another 20 points before he can say that consumers are strongly confident of the mid-state’s economic prospects.