Consumer Confidence Up With 2012 On Horizon

MINNEAPOLIS (WCCO) — Are you planning to go out and celebrate New Year’s Eve, or stay home and save money? This month’s Consumer Confidence Survey says more of us may be feeling like a bigger party this year compared to last.

For the second month in a row, consumers are more optimistic about business, jobs and their financial situations.

When people spend money, the economy improves.

“I’m gonna go out in downtown Minneapolis, with my family. It should be really fun,” said Jessica Spaulding, who is visiting Minnesota from New York. “I think every year you kind of watch, around New Year’s, your budget and try to plan accordingly.”

Like Jessica, lots of consumers are feeling better as 2011 comes to an end.

In November, 13.9 percent of people interviewed said business conditions were good. That number is up to 16.6 percent in December.

The Hilton Hotel in downtown Minneapolis has 821 guest rooms and all are reserved for New Year’s Eve. That’s good for what the hospitality industry calls “spend.”

“We’re seeing ‘spend,’ more spend in food and beverage, and other services around the hotel. So definitely we’ll require more team members to be hired,” said Hilton General Manager John Luke.

Job creation also improves consumer confidence. When asked if things will continue to improve over the next six months, 16.7 percent of those surveyed in December said yes, up from 13.7 percent last month.

Patricia Erskine works in the travel industry and she says people are on the move.

“They may not necessarily stay at the five-star hotels, but they will still try and stay in good hotels and get good deals, so things are getting better, definitely,” she said.

The Consumer Confidence survey also says more people expect employment to improve in 20-12, and fewer people think jobs will be lost.

More from Liz Collin
  • It's all

    Obama’s fault, that Socialist Kenyan Muslim. And his FellowTravelers.

  • G Diog

    Amazing that the economy is going anywhere considering that the Repugnantcans oppose every proposal that he puts forth. I swear that if Obama asked for $25 million dollars to cure cancer, the Repugnantcans would call it a job killer for oncologists and either oppose it or tack on a bill to reduce taxes on the rich.

    • Kevin

      G Diog…you alright man? I mean isnt it G Dog????

  • Kevin

    Well of course it is …its an obami erection year….sup bro? its all good..

  • G Dog

    A little typo Kevin my bud. Hope Santa was good to you. He brought me one of the weakest Republican slate of candidates since…..okay, I can’t think of one.

    Peace and prosperity to you and yours Kevin.

    Happy New Year.

  • Jack

    Look back at every election year. Gas prices are down, the economy gets “better,” etc., Then, as soon as the new president takes office, it’s back to the political games and personal agendas of the politicians and Big Business.

    The consumers whose confidences are up are either 1) naive and believe everything they’re fed by the government and the media and/or 2) in complete denial and believe it because they WANT it to be true.

    The economy has only just begun to go downhill. The wise will get out of debt NOW, stop spending frivolously on entertainment and techo gadgets, and prepare for the hard times ahead. You haven’t seen anything yet. Mark my words. Don’t get side-tracked and distracted by the Dems vs. Reps garbage in the news. It’s a distraction.

    • yep

      Listen to Jack!

    • 3.29

      Gas Prices are Down? Down from what?

    • Buy Alcoa!!

      Comments like these make me glad I bought a bunch of stock in companies that make tin foil.

    • sick of people's BS

      You are absolutely correct Jack. I am doing exactly as you suggest and will await the bottom falling out but I will be prepared this time. The media and Dem’s will do anything to pump up Obama and make it look rosy when we know what he is capable of and what will happen if (and that’s a big IF) he gets re-elected.

    • Woe Is Us!!!

      I have a mattress for sale. You can stick all your gold under that and wait out the coming Mayan Doomsday.

      • sick of people's BS

        Why would I want to do that Woe is Us. I can’t take it with me.

  • Consumer Confidence Up With 2012 On Horizon « CBS Minnesota

    […] [WCCO] // // Share this No comments // […]

  • G Dog

    You don’t know jack, Jack.

  • Ace

    I could spend money but I don’t need anything and have no place to put all the things I bought. Maybe that’s one reason consumer spending is down.

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