We’re feeling better about the economy and are more likely to buy a new car in the coming year.
Those are just two of the findings of the Economic Index Consumer survey conducted on behalf of Ohio-based Huntington Bank.
Despite an improving outlook, there’s little sign of runaway enthusiasm when it comes to the economy.
Huntington found that 46 percent of respondents feel their local economy is better now than it was a year ago. That’s up from 39 percent a year ago.
Likewise, 58 percent believe the local real estate market is on up the upswing, up from 46 percent who held that view a year ago.
In another sign of growing confidence, 55 percent of respondents who plan to buy a new car in the coming year expect to buy a new model. That’s up from 52 percent.
There was a downside, however.
Based on the survey, consumers are expecting to spend slightly less on holiday shopping. Respondents anticipated spending an average $940. That’s down from $959 in 2012.
Most who answered the survey planned to do the bulk of their shopping at big box stores. But there was some good news for local merchants. Huntington said consumers plan to spend 20 percent of their holiday budget at locally owned stores.
The Huntington survey polled consumers in Michigan, Ohio, western Pennsylvania, Indianapolis and West Virginia.
— Jim Martin