The economy is a constant issue for many Americans. Consumer confidence and people’s opinions about the economy can have a big impact on their buying decisions. So what do people think about the current state of the economy and the direction it is heading? And has consumer confidence changed at all over the past year?
In Ask Your Target Market’s latest survey, just 3% of respondents described current economic and business conditions in the US as very good. 26% described conditions as good. 53% described economic conditions as bad. And 18% described them as very bad. In a May 2012 survey, slightly more respondents, 56%, described economic conditions as bad. And 26% described them as very bad.
Over the past year, just 5% said they think economic conditions have improved very much over the past year. 42% said they think economic conditions have somewhat improved over the past year. 28% said they think economic conditions have stayed about the same. And 25% said they think economic conditions have gotten worse over the past year.
Looking forward, just 9% said they feel very optimistic about economic and business conditions over the coming year. 27% said they are somewhat optimistic. 21% feel somewhat pessimistic. 14% feel very pessimistic. And 29% had no opinion. Last year, however, just 3% said they felt very optimistic.
But how do these feelings impact consumer activity? 39% said that their economic outlook has a large impact on their buying decisions. 40% said that their opinions somewhat impact their buying decisions. And just 21% said their opinions about the economy don’t impact their buying decisions at all.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on May 2 via AYTM’s online survey panel.