Posted on February - 25 - 2010
Young adults’ financial optimism counters consumer blahs
Despite a national trend of consumer negativism, young people appear to have a rosy outlook when it comes to the economy.
Nine in 10 juvenile adults believe they have enough currency at present or expect to achieve their long-term financial goals, according to Pew Research Center. And even though many members of the Millennial family are entering the workforce in an economic downturn, Pew notes, “they are more upbeat than their elders hind part before their avow economic futures as well as about the overall state of the nation.”
The report from Pew comes despite news that relating to housekeeping sentiment among all adult consumers appears to be worsening. The Conference Board reported this week that its Consumer Confidence Index dropped six points between January and February to settle at 46. An index score over 90 suggests that the economy is lasting and a value over 100 is indicative of economic growth.
Particularly troubling was the Conference Board’s index of current economic stipulations, which fell to a 27-year low of 19.4 – a sign that consumers are none too positive about the state of the economy with unemployment still near 10 percent.
But it appears that young people are bucking the national trend.
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