Is consumer confidence coming back?
October 23, 2009
Filed under From the Editors
In October 2008, only 19 percent of consumers said they were confident/very confident in the U.S. economy, according to a national survey from BIGresearch. While that number is dire, it is improving. This October about 30 percent of respondents said they were confident in the economy, which is up less than a percent from Sept. 2009, but still up nonetheless.
It doesn’t look like consumer confidence is going to dramatically rise, however, until the unemployment lowers. A survey from BIGresearch asked more than 5,000 people what sign would best demonstrate that the recession is over. The biggest reason by an incredible amount was when “unemployment levels decline.” About 72 percent of people said that would determine the length of the recession. The top answers following unemployment were “Wall Street stock indexes show it’s over,” nearly 9 percent; and “President Obama says it’s over,” about 5 percent.
So is this slightly improved consumer outlook being reflected in your dealerships? Have you noticed a difference in consumer spending? Is the impulse side of our shoppers returning?