Residents throughout the Volunteer State are surveyed four times per year in order to measure consumer confidence. The research is conducted by Dr. Tim Graeff a professor at MTSU. The research conducted is part of the Tennessee Business Barometer, which looks as if 2019 ended on a positive note.
Results from the most recent Tennessee Consumer Outlook Survey indicate consumers’ outlook on the economy continues to improve. The Tennessee Consumer Outlook Index rose to 254 from 214 in September. This marks the highest level for the index since its inception in 2015. All three components of the index rose. This suggests Tennessee consumers have increasingly more positive views of the current economy, are more optimistic about the future economy, and increasingly view now as a good time to make large purchases
Increasingly optimistic views of the U.S. economy, the Tennessee economy, and personal financial situation contributed to this improved overall outlook. Any potential fears related to possible negative effects of tariffs and a trade war with China, or of a future recession, or negative effects of continued impeachment proceedings do not appear to have a significant effect on consumers’ outlook.
Consumers in middle Tennessee hold the most positive views of the economy, followed by those in east Tennessee. Even though consumers in west Tennessee hold the least positive views of the economy, these consumers still have a relatively positive purchasing outlook. This bodes well for consumer spending across the entire state.
You can view the entire report by clicking here.
