The current economic downturn caused retail sales to drop almost 10% in the last couple of months. Many individuals plan to save more and spend less. However, experts say consumer spending is crucial to the recovery of our economy. Do you plan to cut back in the future, or do you think things are changing for the better?
I plan to spend less and save more in the future: 60%
The economy's outlook is better - I will be spending more: 14%
Not sure: 26%
Comments:
“I don't believe we will hear the truth about the economy. We need to look out for ourselves.”
“With the over regulation of industry, the new health care act and financial reform bill being passed I am not confident in economic recovery.”
“I will be spending more but not because I think things are getting better but will be stepping up my purchase of needed durable goods as a hedge against the coming inflation resulting from runaway government spending.”
“The end of gov't stimulus money and a downturn in China could make things much worse for the economy in the near future.”
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