Consumer confidence falls
Consumer confidence in the region fell during the first six months of this year, nearing the national average for the first time since the latter half of 2005.
At least, that's what RBC Centura reported today, along with results of the Raleigh-based financial institution's most recent study of consumer attitudes and household spending in the southeast.
The overall RBC CASH Index for the region dropped nearly seven points to 92.9 - less than two points above the national average of 91.2. The last time the regional index, which has held steady above 99.5 since January of last year, matched national figures was in July to December of 2005, when both indexes were about 74.
Though the southeast saw slight improvements in consumers' feelings about investment and job security, the region took a blow when it came to consumers' expectations for the future - at an index of 45.4, more than six points below the national average. Consumers here also aren't feeling so hot about making major purchases, such as homes or cars.
RBC economist Derek Holt said he was surprised at the results but that, going forward, consumer confidence should be bolstered by a generally healthy job market in the region and nationwide. Holt's comments were part of a news release issued by RBC Centura.