Are You Feeling Confident?
Looking at a number of key economic indicators it’s obvious that the country is still mired in an economic crisis that continues to take casualties. Unemployment is stubbornly intractable, bank lending is weak and the stock market has had its worst week since March of 2009.
But it may be possible that we are turning the corner in one key area.
According to a report put out today by analysts at The Conference Board (an international association that publishes business research) consumer confidence rose in January for the third straight month.
Their index of consumer attitudes rose to 55.9 points, the highest measure since September 2008. This beat forecasts which called for a reading of 53.5 based on professional analysts polled by the news agency Reuters.
The uptick was driven by an improved outlook on current economic conditions, but long-term views on employment and the economy are still very poor.
Riding to the rescue in that arena is President Obama, who in his State of the Union address tomorrow is expected to propose a host of initiatives to help the middle class in these troubled times. These include programs designed to help families pay for child care, save for retirement, pay off student loans and care for elderly parents.
Obama understands that most Americans are concerned first and foremost with jobs, and he will surely speak to his stimulus policies designed to put more of us back to work and may unveil new initiatives meant to spark employment.
However, with the country also worried about government spending and deficits, he has a limited toolkit with which to work.
It’s said that all politics is local, I’m guessing that all confidence is personal. The economics of your state, local community and household trump any national metric. The good news is that these are more within your control.
Are you feeling better about the economy? Are you taking concrete measures to be ahead of the employment curve when the economy rebounds? Tell us how you see things and leave us a comment.



