U.S. Residents Still Pessimistic About the Economy Despite Improvements

Posted by Leger ● Feb 1, 2024 2:48:40 PM

The Leger Economic Confidence January 2024 report offers a crucial perspective on the economic sentiments of U.S. consumers in a time of global and domestic economic flux.

This comprehensive analysis delves into how these broad economic trends impact U.S. households’ perceptions, concerns, and financial strategies. It sheds light on the shifting landscape of consumer confidence, particularly focusing on the challenges posed by inflation and its implications on spending habits and future financial planning.

This report is pivotal for understanding the nuances of U.S. consumer behavior and is a valuable resource for businesses, policymakers, and individuals navigating the complexities of the U.S. economic environment.

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Download the report to learn more.

Some key highlights of our Economic Confidence study include…

U.S. Residents Have Renewed Confidence in the Economy

  • 54% of U.S. residents think that the state of the economy is poor or very poor, while 39% say it’s good or very good.
  • 25% of U.S. residents say the economy will improve, an increase of 7% from our last measure in September 2023. 27% say it will decline, a decrease of 12% from September 2023.

Household finances’ state continues to deteriorate

  • 61% of U.S. residents think that their household finances are good or very good, a decrease of 2 points from September. 34% believe their household finances are poor, an increase of 3 points from September.
  • The top 3 worries for Americans are:
    • Paying bills (60%)
    • Safety of Savings (58%)
    • Value of investments (56%)

Winter spending went over budget and incurred debt

  • 32% of U.S. consumers went over budget this past holiday season for their shopping plans.
  • 25% of U.S. consumers incurred new credit card debt due to high spending this past holiday season.