Americans More Optimistic on Economy, But Still Not Spending

June 19, 2009 1:08 PM | | Comments (0)

Americans are growing more optimistic that the economy will improve in the next year, as will their own personal financial situations, but for the moment, they still are cutting back on living costs, according to a Pew Research Center survey conducted June 10-14.

Forty-eight percent believe the economy will be better a year from now, up from 40 percent in February. Similarly, while 52 percent rate the economy as poor, that's down from 68 percent in March. Those making less than $30,000 a year are less optimistic about the future, with 42 percent expecting better times. A little more than half of those earning above that come down on the things-will-be-better in 12 months side.

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Thirty-six percent say their finances have worsened and 50 percent believe they might get worse. That goes hand-in-hand with the finding that 59 percent still have cut back on vacation spending, unchanged from February, and 56 percent have been eating out less often, about the same as it's been since December. Forty percent have delayed or cancelled purchase of a major item and 36 percent have delayed or cancelled plans to buy a new car.

The top two personal economic worries are the job situation and rising prices.

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Categories: Economy, Pew Research Center

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