According to a recent article on msn.com, U.S. consumer confidence is the highest it has been in 4-1/2 years. This number may have seen a boost due to a more positive outlook on hiring and employment levels for 2013. While the consumer confidence index of 73.7 is a positive number, it is still below the level of 90 that is expected with a healthy economy.
According to the article, Consumer spending drives nearly 70% of economic activity. The consumer confidence could lead to an increase in holiday spending as 2012 comes to an end.
While Americans are optimistic, CEOs are not looking so brightly on the future. The CEO confidence level continues to decline and is down five points to 42 (down from 47 in the previous quarter). A reading of more than 50 points shows a collection of more positive than negative responses).
While CEOs waited to see how the election panned out, they made inferences about how the outcome would affect their businesses. Are the coming tax raises getting them down?
For you as a dealer and small business owner, which number is more important to you? Does your success depend more on your suppliers or your customers? Would you consider yourself more in–line with the confident consumer or the pessimistic CEO? What do you anticipate for yourself and the economy for the coming year?