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Over the next few months, 41% of consumers say their primary concern will most likely be personal finances.

Some 61% of consumers are highly concerned about the economy

Overall consumer financial concern increased in April

Numerator continues to track purchase data and survey verified buyers to understand shifts in consumer behavior. The company's monthly Consumer Sentiment Study keeps a pulse on how consumers are feeling about the economy, the pandemic and other emerging market influences. Here’s what was learned in the latest survey: 

  • Overall consumer financial concern increased in April. 61% of consumers have a high level of concern regarding the economy, up four percentage points from last month
  • Over the next few months, 41% of consumers say their primary concern will most likely be personal finances
  • 69% of consumers feel as though the country is in an economic recession, and 68% believe it will worsen in the next few months (+4 points from March)
  • 74% of consumers say rising prices on essential goods and services is their main economic concern, followed by rising prices on gas/fuel (67%
  • 28% of consumers are concerned about housing market stability and affordability 
  • Low-income consumers are concerned about government benefits scaling back (40%), while high-income consumers show concern about stock market stability (42%)
  • Consumers’ spending discomfort for taking money out of personal savings or retirement accounts and splurging on premium or “luxury” items remains high (72% and 71%, respectively)
  • Consumers are making spending cuts in response to rising prices. 41% anticipate cutting back on dining out, 38% plan to cut back on electronics and 37% anticipate cutting back on travel in the next few months
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