Consumers Apprehensive Over Tumbling Economy
As fears of a recession continue to spread throughout the nation, a recent survey from the Opinion Research Corporation, an infoUSA company, shows that 52 percent of the 1,006 adults polled are cutting back on, or postponing, larger expenditures, such as home appliances (28 percent), home repairs (33 percent) and new cars (35 percent).
Here are some more noteworthy findings of the survey.
* 62 percent said a further increase in the cost of gasoline was their biggest concern;
* 43 percent feel they will not be able to save money in the next six months;
* nearly 25 percent expect to borrow money in the next six months;
* 19 percent said they’re concerned about a job loss in their household in the next six months;
* respondents with income less than $25,000 are most concerned (30 percent), and 9 percent are worried about their own possible job loss;
* 8 percent expressed concern about being forced into bankruptcy in the next six months; and
* younger (Generation Y) adults proved to be the most concerned, particularly citing the need to borrow money, possible bankruptcy and job loss.
For more information, go to www.opinionresearch.com .