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CONSUMERS AND THE ECONOMIC OUTLOOK - US - JANUARY 2018

Published By :

Mintel

Published Date : Jan 2018

Category :

Banking

No. of Pages : N/A

Economic improvement continued at a relatively steady clip as a new presidential administration took office at the beginning of the year. While there have been natural catastrophes and tragedies throughout the US, the economy has generally remained stable and any expert predictions continue to be optimistic.

Table of Contents

YEAR IN REVIEW
STATE OF THE ECONOMY
In summary: 2017
Figure 1: Key economic indicators, November 2017
GDP continues to increase
Figure 2: GDP change from previous period, based on chained 2009 dollars, Q1 2016-Q3 2017
Un- and underemployment end year under 2016 numbers
Figure 3: Unemployment and underemployment, January 2016-October 2017
Consumer confidence ends Q3 over 100
Figure 4: Consumer Sentiment Index, January 2016-October 2017
CURRENT FINANCIAL SITUATION
Financial situation considered most healthy in the summer
Figure 5: Opinion of current financial situation, Q1-Q4 2017
Men are more confident with their current finances
Figure 6: Opinion of current financial situation, by age and gender, November 2017
CHANGES IN FINANCIAL WELLBEING
No significant changes in financial wellbeing throughout the year
Figure 7: Changes in financial situation, Q1-Q4 2017
Younger consumers still most optimistic about their future financial plans
Figure 8: Expected changes in financial situation, by age and gender, November 2017
City-dwellers most enthusiastic for 2018
Figure 9: Expected changes in financial situation, by geographic area, November 2017
IMPROVING FINANCES
Saving money remains top economic improvement factor, with investing gaining popularity
Figure 10: Top five factors to improvements to financial situation, Q1-Q4 2017
Young consumers continue to focus on self-reliance for economic improvement
Figure 11: Self-reliant factors to improvements to financial situation, by age and gender, November 2017
SPENDING PLANS
Past spending habits show general, though slight, downward trend
Figure 12: Saving and spending habits overall, Q1-Q4 2017
Figure 13: Where money is spent, Q1-Q4 2017
Adding to savings, domestic travel most frequent in the fall of 2017
Figure 14: Past expenses, November 2017
Older consumers save while younger consumers cut back
Figure 15: Past expenses, November 2017
Figure 16: Past expenses, November 2017
Looking ahead, consumers estimate fewer savings, spending
Figure 17: Saving and spending habits overall, Q1-Q4 2017
Figure 18: Where money will be spent, Q1-Q4 2017
Holidays impact travel plans, debt reduction
Figure 19: Future spending or savings plans, November 2017
Young men and women plan to save for the next quarter
Figure 20: Future savings plans, November 2017
Figure 21: Future spending plans, November 2017
Most do not intend to purchase luxury items or travel internationally this season
Figure 22: Not done and no intent to do, November 2017
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Consumer survey data
Abbreviations and terms
Abbreviations
Terms

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