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Consumers and the Economic Outlook: Quarterly Update - US - October 2017

"The US economy remains strong and stable, maintaining most levels it held last quarter. Consumer outlook is still optimistic and positive, but differences in age and income level reveal different motivations for improving the current state of a consumer’s finances. Few predict that their financial situation will change much over the next year, and spending is expected to remain steady over the next quarter as well. This quarter, changes are especially prevalent between younger and older consumers, particularly in regards to household income. Those making less than $50,000 per year are less economically confident; however consumers across demographics remain optimistic about their future financial situation."

- Jennifer White Boehm Associate Director - Financial Services

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Table of contents

  1. Executive Summary

    • State of the Economy

      • Economy remains stable, allows for consumer growth
        • Figure 1: Key economic indicators, August 2017
    • Current Financial Situation

      • Current financial health remains high
        • Figure 2: Opinion on current financial situation, August 2017
        • Figure 3: Opinion on current financial situation, by age and household income, August 2017
      • Optimism rises throughout 2017
        • Figure 4: Opinion on current financial situation, Q2-Q4, 2017
        • Figure 5: Opinion on “healthy” financial situation, by age and household income, Q2-Q4, 2017
    • Changes in Financial Wellbeing

      • Few predict changes in financial situation
        • Figure 6: Change in financial situation over the next year, August 2017
      • Young, middle-class consumers are the most confident
        • Figure 7: Change in financial situation over the next year, by age and household income, August 2017
    • Improving Finances

      • Saving, lowering costs still viewed as most immediate ways to economic advancement
        • Figure 8: Important factors in improving current financial situation, August 2017
      • Job stability loses importance, while favor of additional income increases
        • Figure 9: Top factors in improving financial situation, Q2-Q4, 2017
      • Younger consumers focus more on employment, savings
        • Figure 10: Important factors in improving current financial situation, by age, August 2017
        • Figure 11: Important factors in improving current financial situation, by income, August 2017
      • Older consumers would prefer to lower costs or invest
        • Figure 12: Important factors in improving current financial situation, by age and household income, August 2017
    • Spending Plans

      • Spending remains steady
        • Figure 13: Past and future spending plans, August 2017
      • Majority of consumers plan no significant spending changes
        • Figure 14: Plans for no spending changes, August 2017
      • Younger, wealthier consumers more optimistic about luxury/big-ticket spending
        • Figure 15: Future spending plans, by age and income, August 2017
    • Appendix – Data Sources and Abbreviations

      • Data sources
        • Consumer survey data
          • Abbreviations and terms
            • Abbreviations

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            Consumers and the Economic Outlook: Quarterly Update - US - October 2017

            US $2,500.01 (Excl.Tax)