Economic overview

The economy continues its slow and steady recovery, though economists are hesitant to say that it has officially recovered. While some consumers may be watching economic indicators, many are not, and even those who are may not see the direct effects on their daily lives. Overall, if consumers were already feeling confident in their financial situation, those positive feelings have continued. Geographic region has a slight effect on opinions about consumers’ financial situation, especially when thinking about how to increase one’s finances. Spending and savings plans have not changed in a significant way, even as these plans are shown to be influenced by seasons.

In focus: area of residence

Since the 2016 election, brands, and especially marketers, have concentrated on the seemingly stark divide between geographic regions. In this Report, we’ll specifically look at the differences between urban, suburban, and rural communities, no matter where they are located within the country, and the impact area of residence has on consumers’ economic outlook. Urban residents tend to skew younger in age and make less than $50K per year, while those living in the suburbs range in age (but are most likely to be between the ages of 35-44) and are typically more affluent. Rural residents surveyed for this Report were more likely to be over the age of 55 and make less than $50K per year.

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