I was speaking a couple days ago with reporter Heather Nolan at the Beaumont Enterprise, a newspaper serving Southeastern Texas. Heather was writing an article about the general state of retail and consumer confidence.
If this Texas town and the national trends are any indication, we may be on our way to a bit of positive news on the retail front.
Sales picked up 1.5% over March according to Retail Metrics. And retailers in and around Beaumont were feeling buoyed by consumer confidence.
Here’s why consumer confidence is rising:
- The stock market rally continues and typically is the first indicator of an economic recovery
- Job loss numbers have been lower than expected
- The fed’s bank stress test came back more positive than anticipated
- There are hints of light in the housing industry although mortgage application rate has been fluctuating as of late compared with growth last month
- Even Obama’s visit overseas helped buoy consumer confidence
All of these point toward the beginning of a recovery. Even the media is helping to promote the recovery by focusing on the good for a change.
What’s going on with business in your community?