Banking

Survey discovers most customers worried about individual financial resources

Rising rates of interest and high inflation have actually left most customers cynical about the state of the U.S. economy and their financial resources, according to a brand-new survey by insurance company Nationwide. The business commissioned a survey of 2,000 U.S. customers in early September—prior to the Federal Reserve’s latest rate of interest trek—and discovered that approximately 3 out of 4 participants (76%) ranked the state of the economy as either “poor” or “fair.” Sixty-8 percent of participants anticipated rates of interest to increase in coming months, while a bulk anticipated an economic downturn and more stock exchange decreases.

The study likewise discovered that 77% were worried about inflation and increasing living expenses. Roughly half thought that their monetary circumstances have actually been adversely impacted by inflation/rising living expenses (66%) and the unsure financial environment (49%) over the previous 6 months. About 4 in 10 were fretted about losing their tasks, being furloughed or taking a pay cut.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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