Two-thirds (67%) of U.S. adults expect the economy
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Posted On: 01/14/2024 8:01:47 AM
Two-thirds (67%) of U.S. adults expect the economy will enter into recession later this year – a key finding from Northwestern Mutual’s newly released 2023 Planning & Progress Study exploring Americans’ attitudes and behaviors toward their finances.
For those who see a recession looming, one-third (33%) say it will be short-lived, lasting a year or less, while one-fifth (19%) say it will last more than two years. And among those anticipating a recession, three out of four expect it to have a high or moderate impact on both their near-term (78%) and longer-term (75%) finances.
According to the research, most Americans are responding to economic uncertainty with action, making adjustments – small and large – to their financial priorities and choices.
For those who see a recession looming, one-third (33%) say it will be short-lived, lasting a year or less, while one-fifth (19%) say it will last more than two years. And among those anticipating a recession, three out of four expect it to have a high or moderate impact on both their near-term (78%) and longer-term (75%) finances.
According to the research, most Americans are responding to economic uncertainty with action, making adjustments – small and large – to their financial priorities and choices.
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