Consumer Attitudes Stabilize, Positivity Spreads

As we enter into the second quarter of 2012, not only is America in the midst of an economic recovery, but consumer attitudes toward the economy and spending are improving as well.  For example, in previous years, as summer gas prices went up, consumers went into a frenzy of sorts cutting back on gas consumption and they reduced spending on extras in order to make up the difference they were paying at the pump.  This year, while consumers are in fact upset at the gas price increases, we are seeing consumers still spending, an indication that the economy for the majority of Americans is improving.  According to a February 2012 Fannie Mae survey, consumer attitudes toward key economic and housing issues have begun to stabilize.  In fact, 35% of American’s feel that the economy is on the right track, up 19 points just since November of last year.  In addition, 76% of American’s do not fear losing their job, up 6%.  As America continues to add more jobs in the private sector and unemployment continues to drop, consumer confidence will continue to rise and spending will increase as well.

For more on the Fannie Mae survey and the results check out Consumer Attitudes Stabilize, Positivity Spreads

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