Over half of Americans 'expect long downturn'

12 November 2008

Economic gloom in the US shows no signs of lifting, with 86 percent of Americans worried that the country is in recession - and 54 percent saying the situation will last for more than a year.

According to the survey from Nielsen, younger and older consumers are the most pessimistic in their outlook, with only six percent of 25 to 29-year-olds and seven percent of over-65s agreeing that the perceived recession will be over within 12 months.

Women were found to be more downbeat than men, with 91 percent of females saying the country is in recession, compared to 82 percent of males.

Overall, 38 percent of Americans said the economy will be their top concern over the next six months.

Nielsen's vice-president of marketing, James Russo, said many consumers had felt the "pain in their wallets" long before stock markets crashed in October.

"By the end of the second quarter, most US consumers had already come to the conclusion the country was in recession," he commented.

Nielsen is an international analyst specializing in consumer, business and media research.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development