Back in October, 2008--two months before the recession was officially announced, but roughly ten months after it had technically started--I wrote a posting for this blog that was titled, "Are we there yet?" The piece suggested that it doesn't matter what the Fed says... or the treasury department or the white house or the pundits and economists on Wall Street. My position was (and is) this: If your customers think you're in a recession, you're in one.
Today, I am most pleased to repeat that position, but in a manner which leads to a much more optimistic outlook.
According to this story from today's Media Post Marketing Daily, most consumers are reasonably sure the recovery is here. The article is based on input from DeLoitte Research, and it offers the assertion that this optimism is particularly strong among affluent consumers.
Implications: The recovery is in the eye of the beholder. There are likely to be continued fits and starts with the stock market, and we could still hit some bumps in the road.
But behold... a lot of consumers believe the recovery is indeed underway.
Mike Anderson
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