Inflation is down significantly from its peak, and buying power in the US has increased each month since May 2023. Interest rates are expected to decline throughout 2024.
But do US &UK consumers feel good about the economy? What's worrying them, and what are they doing to cope?
Here's what people in the US & UK had to say.
clean infographic
Half of consumers are cutting back on expenses and spending
In US, two-thirds of consumers feel negatively about the economy
While in the UK, three-fourths of consumers feel negatively
Imagery reinforces negative emotions
via buzzback eCollage
buzzback eCollage elicits imagery and emotional associations via interactive online collaging
The stressors
Themes of consumer dissatisfaction
While there are similar themes between the US & UK, there are also differences.
Inflation & rising prices
Income or savings are not keeping up with inflation and rising pricing of:
Several feel frustrated, angry and stressed about their financial situation.
Government spending and policies
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Criticism of the government for:
They feel betrayed, hopeless and scared about the future of the country.
Uncertainty and instability
Unknowns around:
Leaving them feeling nervous and anxious.
Anxiety and worry
Leaving them feeling scared, stressed, sad, and angry.
Inequality, lack of opportunities and fairness
Belief that the economy:
Some Americans feel oppressed, exploited and confined by the system.
How 30 – 40% of consumers minimize stress
Beyond minimizing stress, how consumers are self soothing
= Significantly Higher
