Survey Reveals Most Americans Think the US is in Recession
New research from Affirm reveals that 60% of Americans believe the U.S. is in a recession, despite no official declaration.
A survey of 2,000 participants cites inflation and rising living costs (68%) as major reasons for this belief, with additional factors including discussions with friends and family (50%), reduced spending (36%), and challenges with credit card debt (20%). Respondents estimate the recession began in March 2023 and will last until July 2025. Almost 70% report that inflation negatively impacts their financial plans.
To cope, 89% focus on predictable monthly budgets, 63% prefer knowing total purchase costs upfront, and over half use “buy now, pay later” services. Vishal Kapoor from Affirm highlights the importance of financial control and transparency in uncertain times.
Clever Robot News Desk 26th July 2024
