SAN ANTONIO — The economy will improve slightly, but consumers will continue to be cautious about spending and talking on new debt, CUNA's top economists said at a session during America's Credit Union Conference.
"Economic conditions will improve even more by 2012 but it won't like all other recoveries because spending will be slower," said CUNA Vice President Mike Schenk. "The sky is not falling, and the good news is that we are in a much better place than a year ago."
He noted that the economy is creating jobs, though not as quickly as everyone wants, and retail sales have increased during 17 of the last 20 months.
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