Table of Contents
Executive Summary
State of the Economy
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- US economy shows moderate, steady growth
- Un- and underemployment continues downward trajectory
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- Figure 1: US unemployment and underemployment, January 2010-January 2017
- New administration inspires consumer confidence
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- Figure 2: Consumer Sentiment Index, January 2010-January 2017
- DPI dips slightly in 2017
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- Figure 3: Disposable personal income change from previous period, January 2007-Jan 2017
- CPI up over 2% from 2016
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- Figure 4: Consumer Price Index change from previous period, January 2010-January 2017
Current Financial Situation
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- Most consumers view their finances positively
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- Figure 5: Opinion on current financial situation, February 2017
- Average US salary nearly $70,000 per year, increases with age
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- Figure 6: Income before taxes and average annual expenditure, by age, 2015
- Older consumers, especially men, are the most comfortable with their finances
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- Figure 7: Opinion on current financial situation, by gender and age, February 2017
- Whites, Asians feel the most secure with their finances
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- Figure 8: Opinion on current financial situation, by race/ethnicity, February 2017
Changes in Financial Wellbeing
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- Consumers don’t see large financial changes looming
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- Figure 9: Change in financial situation over next 12 months, February 2017
- Younger consumers most likely to think they’ll be better off next year
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- Figure 10: Improvement in financial situation, by age, February 2017
Improving Finances
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- Saving money is most popular method for economic improvement
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- Figure 11: Economic situation improvements, February 2017
- Consumer age, lifestage affect view on importance of costs and education
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- Figure 12: Willingness to lower cost of living, by age, February 2017
- Affluent consumers to rely more on investing to improve finances
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- Figure 13: Employment or investment economic improvement, by household income, February 2017
Spending Plans
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- Consumers continue to add to their savings, while planning on domestic travel
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- Figure 14: Savings plans, February 2017
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- Figure 15: Spending plans, February 2017
- Few big-ticket purchases on the immediate horizon
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- Figure 16: Lack of intent to purchase big-ticket/expensive items, by household income, February 2017
- Young consumers hope to travel internationally
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- Figure 17: Previous and intent to travel internationally, by age and gender, February 2017
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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