When the tea-baggers get their 15 minutes of fame this week, they will be fighting a slowly shifting tide:
Rasmussen Consumer Index
Belief Grows That Economy Improving, Confidence Moves to 7-Month Highs
Sunday, April 12, 2009
The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, gained another three points on Sunday following a five point gain on Saturday. At 77.1, the Index has reached its highest level since last September 20.Consumer confidence is up 9 points from a week ago, 19 points from a month ago, and is even up a point-and-a-half from a year ago.
The Rasmussen Investor Index gained three points on Saturday to 86.3. Investor confidence hasn’t been higher since shortly after Lehman Brothers collapsed last September. Investor confidence is up 15 points from a week ago and 25 points from a month ago. While improving, confidence is still down two points from a year ago and down 46 points from two years ago.
Thirty-five percent (35%) of Investors now say the economy is getting better while 43% say the opposite. Those numbers represent a very dramatic turnaround over the past month. One month ago today, just 11% said the economy was getting better while 68% said it was getting worse.
In a reversal of recent trends, investors who prefer low-risk, low-return investments are now a bit less pessimistic than higher-risk investors.
Also, the number who say they would put new money in a savings account is down to 27%. A plurality (33%) would put the money in real estate.
Among all adult consumers, 29% now say the economy is getting better. Thirty-three percent (33%) of men hold that view along with 25% of women. Entrepreneurs are more optimistic than government employees or those who work for someone else in the private sector. Democrats are evenly divided as to whether the economy is getting better or worse while most Republicans and most of those not affiliated with either major party still say things are getting worse.
Still, the best indicator of consumer attitudes is what’s happening in their workplace. Among those who work at firms that are hiring, 64% say the economy is getting better. At those who work for firms that are laying people off, 59% say the economy is getting worse.
There’s a glimmer of good news in this month’s release of the Rasmussen Employment Index. After declining for five straight months, prospects for the labor market stabilized as the Employment Index inched up slightly. The Discover Small Business Watch also showed improvement in confidence among small business owners. In addition, the Discover Consumer Spending Monitor recovers after suffering record low. |
