Report Shows Consumers Are in Wait-and-See Mode

Consumer confidence in Middle Tennessee is on the rise, but it won’t necessarily translate into more spending.

According to a survey released today, overall confidence in the midstate’s economy is at its highest level since 2008. People are more optimistic about the future. But consumers are still discouraged by the current economic conditions. Tennessee State University economist Saumen Ghosh says the results show that Middle Tennesseans think real improvement is still a few months away.

“People are expecting that the job market will be better. But it’s not that better yet.”

Only one in four people expect to spend more this month than they did a year ago. But almost everyone plans on saving; 98 percent say they’ll maintain or increase the amount of money they set aside for the future.

Middle Tennessee State University’s Office of Consumer Research conducted the survey.

WPLN’s Nina Cardona contributed to this report.