Consumer Confidence Survey: Shutdown Has Impacted Economic Outlook

The recent government shutdown has already begun having detrimental effects on the US economy. Some effects, like federal workers not receiving paychecks, are obvious. But others, like the impact the shutdown has had on overall consumer confidence, might not be quite as obvious. How much has consumer confidence changed since the shutdown?

consumer confidence

Economic Conditions

In Ask Your Target Market’s latest survey, just 3% of respondents described current economic and business conditions in the US as very good. 21% said conditions are good. 52% said they are bad. And 24% described current conditions as very bad. In a May 2013 survey, just 18% of respondents described economic conditions as very bad.

Just 6% of respondents said they think economic and business conditions have improved a lot over the past year. 28% said they have somewhat improved. 32% said they have stayed about the same. And 35% said that conditions have gotten worse over the past year.

Moving Forward

As far as confidence is concerned, just 5% said they feel very optimistic about economic and business conditions over the coming year. 19% said they feel somewhat optimistic. 32% were neutral or had no opinion. 28% said they are somewhat pessimistic. And 17% said they are very pessimistic.

In the May 2013 survey, 9% of respondents felt very optimistic about economic conditions over the coming year. 27% felt somewhat optimistic. 29% were neutral. 21% were somewhat pessimistic. And 14% were very pessimistic. This category represented the biggest difference between the two surveys.

Buying Decisions

In general, 38% of respondents said that their economic outlook very much impacts their buying decisions. 45% said their outlook can somewhat impact buying decisions. And just 17% said their buying decisions aren’t affected. Those who described current conditions as bad or very bad were slightly more likely to say that their opinions can impact their buying decisions.

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.

Photo Credit: Shutdown – All Hands from Flickr

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 October 11 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.