Greatest Financial Concern by Generation (Percent Ranked as Top 3 Concern) Recession (53%) and increased housing prices on rent or mortgage (45%) were the next highest concerns.Īnd while the Federal Reserve has increased interest rates 10 times since March 2022, rising interest rates (41%) only ranked as the fourth greatest financial concern for consumers, though that percentage did rise from 39% in Q1 2023 and 34% one year earlier in Q2 2022. For the sixth consecutive quarter, consumers indicated that inflation is causing them the most anxiety, with 79% reporting it as one of their top three financial concerns. The Q2 2023 Consumer Pulse study is based on a survey of 3,000 American adults between April 25-May 9, 2023. That’s understandable when one considers that inflation rose to 40-year high levels in mid-2022 and, despite a gradual decline over the past year, remains elevated at twice the rate it was prior to the pandemic. About half (46%) of consumers reported their income is not keeping up with inflation for everyday goods such as groceries, gas, etc. What’s driving these conflicting notions? Inflation. Despite these concerns, about six in 10 Americans (57%) reported optimism about their household finances for the next 12 months – the highest level since the last quarter of 2021. Three in four consumers (75%) believe a recession will occur by the end of 2023.
economy is in a recession or will be by the end of June. The latest TransUnion (NYSE: TRU) Consumer Pulse study found that 44% of Americans believe the U.S. Subscribe on YouTube.Many consumers are in a financial conundrum. Check Business Breaking News Live on Zee Business Twitter and Facebook. Get Latest Business News, Stock Market Updates and Videos Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. exchanges 9.39 billion shares changed hands compared with the 10.17 billion moving average for the last 20 sessions. The S&P 500 posted six new 52-week highs and 25 new lows the Nasdaq Composite recorded 34 new highs and 174 new lows. Declining issues outnumbered advancers on the NYSE by a 2.05-to-1 ratio on Nasdaq, a 1.97-to-1 ratio favored decliners. Roku shares rose 2.9 per cent after the company said it would reduce its workforce by about 10 per cent and limit new hiring. weapons maker trimmed the delivery outlook for its F-35 jets. Lockheed Martin (LMT.N) shares sank 4.8 per cent after the U.S. economic growth in recent weeks while job growth was "subdued," and inflation slowed in most parts of the country. economy a week ahead of the keenly awaited August inflation data and the Fed's rate decision on Sept. The S&P 500 showed little reaction to the Fed's "Beige Book" snapshot of the U.S. Oil futures settled up on Wednesday, adding to recent gains, which fueled concerns about inflationary pressure. Energy was the only other gainer, up 0.1 per cent with support from higher oil prices. Of the S&P 500's 11 major industry sectors, growth-heavy technology was the biggest decliner, losing 1.4 per cent, while defensive utilities led gains, up 0.2 per cent. The Dow Jones Industrial Average fell 198.78 points, or 0.57 per cent, to 34,443.19, the S&P 500 lost 31.35 points, or 0.70 per cent, at 4,465.48 and the Nasdaq Composite dropped 148.48 points, or 1.06 per cent, to 13,872.47. On top of rate concerns, Apple Inc, which finished down 3.6 per cent, was pressured by a report that China had banned officials at central government agencies from using iPhones and other foreign-branded devices for work.
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