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Consumers More Confident About Economy

Friday, February 25th, 2011

The Consumer Confidence Index was released this week and is showing some positive signs about how consumers feel the economy is performing. NPR is reporting that the monthly index has reached 70.4, which is up almost six points from its 64.8 rating in January.

According to the article, February’s rating is the highest score since the recession began three years ago. The new rating isn’t high enough to reflect a strong economy, but it still shows that consumers feel the recovery is gaining steam.mallcrowd

“It finally appears that consumers are beginning to believe the economic recovery is under way,” Lynn Franco, director of the Conference Board Consumer Research Center, says in the article. “Overall, it’s still a reading that’s relatively weak but much stronger than where we were a year ago.”

The uptick of confidence comes even as unemployment holds steady and gas prices shoot up to an average of $3.19 nationwide, which is the highest average in almost three years.

With the busy season fully under way for most in the indoor tanning business community, this news could mean more customers in beds as they feel more comfortable spending money.

Read the full article at NPR

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