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The latest information from market research firm NPD Group, Inc. shows consumer sentiment is on the rise and concern regarding job security is decreasing.
"These results are encouraging and indicate that the consumer is feeling more positive about the state of our economy," says Marshal Cohen, chief industry analyst for NPD.
The survey also showed a 7% decline in the number of consumers who are 'very concerned' about the security of their jobs. "How consumers feel about the security of their incomes has an impact on how they respond at retail," notes Cohen.
As news of our economy continues to improve and reach the ears of consumers, we will see that they are starting to move beyond just purchasing necessities. This movement is critical as we begin to progress through this period of stabilization," concludes Cohen.