New polling from Fortune and SurveyMonkey shows strong consumer spending heading into the holiday shopping season.
- Consumer spending is strong. A majority of people (59%) say their monthly household budget is "about the same" as it was a year ago, and another 29% say it is "significantly higher" now. Just 10% say it is "significantly lower" now than last year.
- Confidence is still high. Four in 10 people (40%) say the current condition of the economy is “steady,” while nearly as many (35%) call it “very strong” or “strong,” and fewer (23%) describe it as “weak” or “very weak.”
- A recession is seen as likely. Two-thirds (66%) expect a recession to begin in the coming 12 months, but just 35% say they're already making changes to their household finances in anticipation of a recession.
- Workers aren't worried by recession predictions. A large majority of the workforce (78%) say their own company would be able to weather a economic downturn well, if one were to come.
- Industries are "holding steady." Most workers (65%) say the general economic conditions for their industry are “holding steady” right now, with 21% saying they’re “heating up” and 12% saying they’re “cooling off.” Those in the construction industry are the most likely to be experiencing a boom: nearly three in 10 (29%) say economic conditions for them are “heating up,” the highest of any industry.
Read more about our polling methodology here.
Click through all the results in the interactive toplines below:
How would you rate the condition of the U.S. economy these days?
How do your current monthly household expenses compare to what they were 12 months ago? Would you say they are:
What areas of spending has your household cut back on?
Are your monthly household expenses lower than they were 12 months ago for any of the following reasons?
As you may know, periods of economic growth are followed by periods of recession. Do you think a recession over the next year is…
Have you made any changes to your household finances in the last 12 months as a result of concerns about a recession?
How would you rate the economic outlook for your industry for the next 12 months?
Over the past 12 months, would you say the general economic conditions in your industry have been:
How well would your company be able to weather a recession?