Thursday, September 17, 2009

A new poll shows that personal spending is not yet back

Being aware of consumer perception of the economy can be an asset to your campaign.

The Center for Media Research released in August that personal spending is not back to what it was prior to the economic recession. In the article supplied by the research company, it discusses the findings of a recent poll conducted by AdweekMedia/ The Harris Poll.

Results show that 79% of American adults have made some level of cuts on personal spending this past year. These cuts have been a direct result of the economy. The largest age group to make self-described “a lot of cuts” was the 45-54 bracket. People in the age groups 18-34 and 55+ have the highest percentages, with 24%, of not making any cuts to personal spending.

As far as income goes, 89% of those making $35,000 - $49,900 have made some kind of cuts. In regards to incomes not making budget cuts, people who make between $50,000 and $74,900 had the largest response with 22%.

A positive aspect of the results is that 24% of those polled have started to increase spending to close if not exactly what was spent in years previous.

While economists have begun to state that the economy is re-emerging from the recession, consumers may not agree based on the research data presented. The report suggests watching when Americans start to spend money as the real sign for a recovering economy.

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