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Confidence Reaches Highest Point in Seven Months

CALABASAS, CA-According to a recent Marcus & Millichap research brief, stronger employment growth, fewer unemployment claims and other factors raise consumer confidence levels in September.

By Carrie Rossenfeld | Updated on October 23, 2012

CALABASAS, CA-As GlobeSt.com reported earlier this month, one of the reasons the office and industrial real estate markets have been slow to recover despite low unemployment numbers and the Fed’s extended commitment to low interest rates has been a “crisis of confidence,” according to Hessam Nadji, managing director of research and advisory services for Marcus & Millichap, during a recent “Office and Industrial Market Review and 2013 Outlook Webcast” presented by the firm.

Happily, it seems this crisis is less evident in the retail sector as retail sales and consumer credit come into alignment. M&M’s recent Research Brief, written by Nadji, reports that the Consumer Confidence Index rose to 70.3 in September, marking the highest reading in seven months. Some factors credited for causing the rise in confidence include stronger employment growth, fewer unemployment claims, improved stock-market returns and lower gasoline prices, which helped boost a sharp rise in consumer expectations.

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