Economy: In Consumers We Trust 2012 III

If we believe the media the U.S. economic recovery is endangered because of the sluggish American job market and the crisis in Europe. But U.S. consumers, the engines of the economy, are still boosting their expenditures and fueling the upswing.

This morning we got news that the Restaurant Performance Index climbed in March to a new post-recession high (calculatedriskblog.com). The index is a gauge for consumer spending for restaurant services. The majority of restaurant operators reported higher same-store sales and customer traffic levels

The rising expenditures for eating out are another sign that the majority of consumers are becoming more optimistic. It seems that at least the rising numbers of restaurant visitors are putting more confidence in the economy than the media and the stock market. Maybe investors should follow their example.