November 28th 2013
The good news is getting better: our Economic Recovery Index has reached another record high this month, indicating real momentum in the wider economy. Even better, we’re starting to see improvements in related measures of consumer spending intentions and perceived financial wellbeing in the same survey. Up until now, consumer indicators remained flat even as the consensus on the economic outlook improved. At last there’s evidence of a macro-micro convergence, which bodes well for the much anticipated pick-up in consumer spending next year.