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Archive for Wednesday, December 30, 2009

Consumer confidence rises, but still weak

December 30, 2009

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— Americans are ending 2009 feeling better about the economy than when the year began, buoyed by optimism that job prospects will improve in the first half of 2010.

Consumer expectations for the job market reached their highest level in two years, but most people remain downbeat about their current prospects, according to a monthly survey released Tuesday. The survey also showed fewer people plan to buy automobiles and homes in the next six months compared with November.

“This doesn’t mean that the economy isn’t getting better, but it does raise doubts on how much actual improvement in the economy we’ve actually seen,” said Mark Vitner, senior economist for Wells Fargo Securities in Charlotte, N.C.

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