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MSU Bureau of Business and Government Research Releases Latest Economic Outlook Report
Things are not looking very rosy in the latest regional economic outlook report from the Bureau of Business and Government Research at MSU.
The report for the first quarter of this year shows local consumer confidence and outlook for the future economy fell substantially from an 81.2% rating in the last quarter of 2012 to 72.7% this past quarter.
The researchers say this indicates confidence in the future state of the economy fell substantially this quarter.
And when asked if they think our country is more likely to see good or bad times in the future, the number who said bad times rose significantly. About 90% of those polled predicted bad times for the national economy while about 75% percent see bad times ahead for the local economy.
And this pessimism is reflected in how much they spent this past Christmas season. Only 4% said they spent more this year while more than 48% said they spent less.