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Peoria Area Consumers Worried About Future

Mon, 04 Nov 2013 13:15:34 CST
By: Jim Browne

Peoria Area Consumers Worried About Future The latest survey of consumer confidence in the Metro Peoria area shows people feel pretty good about their current situation, but pessimistic about the future. Bernard Goitein, Director for Business and Economic Activity at Bradley University compiled the data in the survey. He says the federal government impasse over a budg et, and higher debt ceiling corresponded with the survey, between August and October:

"It does look like that's associated with expectations of the future. My conclusion on that is based on the   parrall surveys prefmored national by the the University of Michigan Institute for Social Research and they found declines in expectations in the future much like those we found locally in September and October"
During that period, Peoria area confidence dipped to 73.7, down from 75.9 in the spring. Goitein says because of worries of future inflation, consumers may decide to take a pass on buying anything that's recently gotten more expensive, especially durable goods. Although he says a fear of impending higher prices could spur spending in the next month or two.

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