Table of Contents
Executive Summary
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- Top takeaways
- Consumers are contradictory – want to both save and treat themselves
- Non-essential spending remains non-essential
- Consumers are not incredibly confident about the future of the economy
State of the Economy
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- Economic overview
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- Figure 1: Key economic indicators as of November 2019
- Unemployment hovering around 3-4%
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- Figure 2: Unemployment and underemployment, January 2009-October 2019
- Consumer confidence not solely connected to unemployment
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- Figure 3: Consumer confidence and unemployment, 2000 – October 2019
- Figure 4: Consumer Sentiment Index, January 2009-November 2019
- GDP growth reflects positive advance for economy
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- Figure 5: GDP change from previous period, Q1 2009-Q3 2019
- Yield curve dips, but quickly recovers – signaling the possibility of a slight recession
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- Figure 6: Yield curve, 2013-19
Current Financial Situation
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- Consumers heading into 2020 with healthy finances
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- Figure 7: Current financial situation, November 2019
- Consumer outlook on finances remains strong
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- Figure 8: Current financial situation, Q1 2017–Q3 2019
- Older consumers feel the most stable, but generally “OK” prevails
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- Figure 9: Current financial situation, by gender and age, November 2019
Using Extra Money
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- Consumers are both saving and treating themselves
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- Figure 10: Using extra money, November 2019
- Younger consumers are more self-interested; older look to the future
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- Figure 11: Using extra money, by age and gender, November 2019
Spending Cuts
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- Personal treats are the first expense to be cut
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- Figure 12: Spending cuts after income loss, November 2019
- Women more likely to sacrifice, while men are more split
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- Figure 13: Using extra money, November 2019
Finances after Job Loss
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- Nearly 30% of consumers would significantly struggle after six months without work
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- Figure 14: Financial situation after job loss, November 2019
- Women more likely to feel they’re struggling after extended unemployment
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- Figure 15: Financial situation after job loss, by age and gender, November 2019
Opinions on the Economy
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- Consumers waver on confidence to survive loss of income
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- Figure 16: Thoughts on the current economy, November 2019
- Younger consumers more susceptible to economic job loss
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- Figure 17: Effects of recession on employment and savings, November 2019
- Men are more confident in the future economy than women
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- Figure 18: Economic predictions, by age and gender, November 2019
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
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