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Some 61% of consumers are highly concerned about the economy

Overall consumer financial concern increased in April

1 Min Read
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Over the next few months, 41% of consumers say their primary concern will most likely be personal finances.interstid/Getty Images

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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