MURFREESBORO, Tenn. (WMOT) -- Tennessee consumers are feeling much better about the economy, but still intend to keep a tight grip on the family purse strings.
Dr. Tim Graeff heads the quarterly consumer sentiment survey for Middle Tennessee State University. He says the latest numbers clearly show consumer confidence is on the rise. As a result, survey results indicate most Tennesseans plan to spend more money in the near future.
On the down side, when Graeff asked state residents if they planned to buy any big ticket items in the near future most said “No.”
Even more troubling, when the survey asked respondents if they could survive financially if they lost their jobs tomorrow, 54 percent said they could not.
“They don’t have much savings, they don’t have a whole lot of money to fall back on, so they’re very dependent on their job right now, and if they’re feeling concerned about the job market.”
Graeff also notes that Tennessee consumers continue to be far more optimistic about the state and local economies than they are about the wider national economy.