MURFREESBORO, Tenn. (OSBORNE) -- The Tennessee Consumer Outlook Index is up 28 points or roughly 19 percent in a single quarter.
Middle Tennessee State Index Director Dr. Tim Graeff says the state’s consumers are positive pretty much across the board.
“About twice as many consumers say that the economy in the United States is good, versus bad, and their perception of the Tennessee economy continues to be strong. More than three times as many people say that the economy in Tennessee is good, versus bad.”
Of interest to retailers just ahead of Christmas, the index suggests Tennesseans are now more likely to purchase those big ticket items.
Graeff says the only consumer sentiment number that dropped was the outlook for the future economy. Dr. Graeff says that while Tennesseans expect the economic outlook to remain positive, they’re less optimistic that the economy will continue to expand at its current rapid pace.
Graeff says that after lackluster performance in 2015 and 16, consumer sentiment turned sharply higher with the election of President Trump.
“After the election of last year, when we did our survey in December we saw a significant increase, and I think people are much more optimistic. They’ve been a lot more optimistic this year.”
Graeff says the steady rise in the stock market and promised tax cuts are only adding to the positive outlook.
The index surveyed 630 Tennesseans statewide in early December and has a margin of error of plus or minus four points.
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