Kim Swindell Wood

New report released: Consumers' views on the economy improve

Overall index indicates increased comfort level for spending, further stimulating economy

Posted
(Sept. 21, 2020) - Tennessee consumers regained some of their lost confidence in the economy as the Tennessee Consumer Outlook Index climbed back into positive territory. The Overall Outlook Index rose to 44 from -13 in June. However, this is still a far cry from the score of 212 which was recorded in March of this year, or the score of 254 from December of 2019.  
 
Tennessee consumers have become more upbeat about the current economy, indicating they perceive an economic recovery has begun. The Current Situation Index, while still in the negative range, gained to -60 from -93 in June. Views regarding spending have also improved as the Purchasing Situation Index rose to 17 from -8. Expectations for the future have leveled off. The Future Expectations Index remained relatively steady, dipping only slightly to 87 from 89. Although optimism waned in east and west Tennessee, it continued to grow in Middle Tennessee.  
 
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