Texans gain economic confidence

AUSTIN (KXAN) - Results from a recent survey show Texans are gaining confidence in the economy and making significant changes to their spending and saving habits.

Texans continue to change their personal behavior and their financial planning in accordance to the economy's strength.

Compared to national survey data released by Citi in September 2009, key findings from Citi's Texas survey illustrate:

• Three in five (62 percent) Texas residents believe that the country's economic conditions have a ways to go before hitting bottom, a figure nearly identical to 63 percent at the national level.
• Two in three (67 percent) Texans expect that local business conditions will become much or somewhat better over the next 12 months, compared to 57 percent nationally who believe business conditions will get better in their area.
• 72 percent of Texan adults feel their own financial situation will improve in the next year, compared to 65 percent nationally.

However, Texans remain reluctant to call the recession over. Thirty-eight percent of Texans rate the economy in their area as excellent or good, while 61 percent describe the local economy as only fair or poor. This figure compares with 22 percent of national survey participants that rate the economy as excellent or good.