The economic outlook of Southerners was slightly less gloomy in the second quarter, besting the national average after lagging behind the outlooks of most Americans for the past six months, according to an RBC Bank survey released Monday.
Georgians’ opinions of the economy also improved and the state had the highest number of respondents in the South feeling stronger about their current financial situation and the future economy.
RBC Southeast Consumer Outlook Index (COI) stood at 47.6, up five points from first quarter 2011 and 7.4 points from second quarter 2010. The national average of 44.8 also was improved, up just under a point from a quarter ago and up by nearly two points from second quarter 2010. A reading of 50 points is the historical confidence average.
Tom Porcelli, RBC’s chief U.S. economist, said American viewpoints are improved, though overall concerns remain about future prospects.
“Residents of the Southeastern states, on the other hand, are feeling markedly better about their employment security, current financial health and investment opportunities,” he said.
The South cited by RBC included Georgia and five other states: Alabama, Florida, North Carolina, South Carolina and Virginia.
Future economic expectations for the South stood at 58.4, four points higher than the national average. Overall, 38 percent of Georgians say they feel stronger about both their current financial conditions and the future of their local economy.
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