With 10% of US citizens now fearing job cuts, and only 25% remaining confident in the economy, there is a greater-than-ever trend toward household cost-cutting, according to the ‘Economic & Consumer Insights for Marketing Executives’ briefing from BIGresearch.
In the company’s consumer survey, 24.7% indicated that they were either confident or very confident in the country’s chances of developing a strong economy, rising from a dismal 20.0% in December 2008. However, the recession is taking its toll, as even the optimistic January 2009 figure is almost ten percentage points lower than one year before (33.5%), and is less than half of the January 2007 figure (50.5%).
[NRF BIGresearch 1/9/2009]
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