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Country Financial survey shows consumer confidence growth

Thu, 30 Aug 2012 14:50:09 CDT
By: Jim Browne

Country Financial survey shows consumer confidence growth
Americans are feeling much more optimistic about their finances. That's according to the latest Country Financial survey, which shows across the board improvement in people's attitudes, including their ability to pay down debt, and send their children to college. Joe Buhrmann is Manager of Financial Security Support at the Bloomington-based company. He says there are a couple points that stand out in the August survey:

   

"One in five felt their financial security has improved during the year, so I think that's a really good sign. And throughout all of 2012 so far we've seen at least half of the people surveyed have been able to save something during the year."

Buhrmann says that's the best savings level since 2008. And he says, despite stories about heavy tuition debt loads, college age students feel pretty good about their future:

   

"Those between the ages of 18 and 29 were the most optimistic of all of the groups that we looked at. Nearly half rated their financial security positively, and this was a 15 point increase, and at least 6 points ahead of any other age groups"

Buhrmann says just one year ago the Country Survey of 3,000 Americans showed confidence at an all time low. That took place during a government stand-off over raising the national debt ceiling, and a national credit rating downgrade. At that time the consumer confidence index had sunk to 62.4. This month it's at 65.9 This also marks the first time in survey history confidence rose during August.

   

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