Posted on Saturday, 9th July 2011 by Rebecca Ortiz
The majority of consumers in the U.S. believe that their personal finance situation is worsening, results from the Discover U.S. Spending Monitor revealed last week.
The Discover U.S. Spending Monitor, which is a daily poll tracking economic confidence, also saw its largest month-over-month drop in consumer confidence ever, as the current index dropped to 85.1 from 89.5 the previous month. The current consumer confidence level is the lowest since July 2009, Discover said.
Other results from the poll include:
“In the absence of good economic news, such as on the jobs front or with housing prices, more Americans are growing pessimistic about their long-term financial outlook and the outlook for America’s economy generally,” Julie Loeger, senior vice president of brand and product management for Discover, said in a statement.
There was a noticeable difference in outlook by age, though. Of consumers aged 40 to 64, 58.1 percent said that they view the overall economy as worsening, compared with to 52.8 percent of consumers aged 18 to 39. Similarly, of consumers aged 40 to 64, 55.0 percent viewed their own personal finances are worsening, compared with 46.9 percent of consumers aged 18 to 39.
Similar Posts:
- Discover and Citibank Zero Percent Limited Time Offers
- Woolworths’ contactless credit card use to boost confidence
- Credit Card Regulation: How Much Difference Will the New Law Make?
- Today’s slightly easier credit may be just a mirage
- Balance Transfer Credit Cards–the Bigger Picture
Tags: Consumer, Consumer Confidence
Posted in Credit Cards News | No Comments »