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 January 05, 2009

CONSUMER'S BECOMING MORE CONFIDENT
Based on a survey which is done each month and involves five thousand households, consumers are showing more confidence in the economy. The survey shows that, after a rise in November, there was yet another increase in December. The end date of December's survey was the twenty-first, so last-minute holiday shopping was not included. This rise in confidence has created positive expectations for the next few months, based on optimism regarding labor and business conditions.
In regards to the present situation, there was a continuation of loss of confidence, with consumer confidence staying at a twenty-six year low, due largely to lack of increase or a decrease of income. This will probably influence their purchasing decisions for the near future.

Consumers believing that business conditions are not favorable in the present increased more than two percent, while those who believe that conditions are positive dropped over one percent. The belief that there is difficulty obtaining a job actually decreased a little over half of one percent, and the number of those who believe that there are abundant jobs were slightly lower than in November.

There was an improvement of expectations for the near future during December, with more than twenty-one percent feeling positive, an increase of nearly two percent. Those who see the present situation declining, decreased by more than twenty-two percent.

An increased availability of jobs was expected by slightly more consumers, while there was a decrease of almost two and one-half % who anticipated that fewer jobs would be available. There was also a decrease of just over one-half percent of those who expected their incomes to increase during the next few months.