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Consumer Spending Outlook Still Deteriorating, Survey Finds

February 18, 2009
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

The outlook for consumer spending over the next 90 days looks “grim,” according to ChangeWave Research.

The firm said a survey of 2,701 U.S. consumers taken in the February 2-9 period found “the worst spending outlook ever recorded in a ChangeWave survey.”

According to the survey, 61 percent of the respondents expect to spend less money over the next 90 days compared to the same period last year. That compares with 12 percent who say they will spend more.

Of the survey group, 64 percent say the direction of the U.S. economy will worsen over the net 90 days; only eight percent expect the economy to improve. Asked about their feelings on the stock market, 42 percent say they are less confident than they were 90 days ago, compared to 14 percent who said they are more confident.

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