Gallup Examines the State of the American Consumer
Gallup Blog | Gallup
The financial collapse in 2008 and the ensuing Great Recession have changed American consumers. Millions of people lost their jobs; spending and investment evaporated; and bankruptcies and foreclosures intensified. Consumers lost confidence — not just in the U.S. economy, but in their own financial security, too. These negative effects continue to stall economic growth.
While many factors affect growth predictions, much of the nation’s ability to rebound rests with consumers and how much money they are comfortable spending. Gallup research indicates that consumers today are feeling better about the economic climate in the U.S. and are spending more money. However, their spending has not reached pre-recession levels. For many consumers, the economic downturn left lasting financial and emotional scars.