Consumer Confidence has fallen to a five-month low after analysts had originally expected it to rise. How do US consumers currently feel about the improvement of the US economy? And how does their economic outlook affect their purchasing decisions?
In Ask Your Target Market’s latest survey, 56% of respondents said they believe economic and business conditions in the US are bad. 26% said they feel business conditions are very bad. 16% said they think business conditions are good. And just 2% said business conditions are very good. Those with at least 4 years of college and those employed full time were slightly more likely to think business conditions are good.
Only 3% of US consumers said they think business conditions have improved very much over the last year. 36% believe they have improved somewhat. 46% said they don’t believe business conditions have really changed over the past year. And 16% believe they have gotten worse.
Within the next year, only 3% of consumers said they feel very optimistic about business and economic conditions. 31% said they feel optimistic. 26% said they feel pessimistic. 14% feel very pessimistic. And 23% had no opinion.
So what do these opinions really mean? 31% said that their economic outlook very much affects their large buying decisions. Another 42% said their economic outlook somewhat affects their large buying decisions. And 27% said their outlook does not affect these 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: Shopper’s Food Warehouse
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 29 via AYTM’s online survey panel.