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Consumers and the Economic Outlook Q3: A Look at Both Sides - US - July 2019

Covered in this report

A lot of coverage has been given to the growing divide between political views in the US. While there may be cultural and moral differences that cause fundamental shifts in beliefs, some underlying concerns, specifically financial ones, are more similar than different. However, if a consumer’s personal belief system aligns with the government administration currently in power, they view the government’s effect on a variety of financial matters to be more positive.

"A lot of coverage has been given to the growing divide between political views in the US. While there may be cultural and moral differences that cause fundamental shifts in beliefs, some underlying concerns, specifically financial ones, are more similar than different. However, if a consumer’s personal belief system aligns with the government administration currently in power, they view the government’s effect on a variety of financial matters to be more positive."
- Jennifer White Boehm, Associate Director - Financial Services & Automotive

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Table of contents

  1. Executive Summary

    • Overview
      • Key takeaways
        • Financial priorities cross political lines…
          • …but future financial outlook is skewed
            • Positive outlook on government’s impact strongly connected to political views
              • Implications for brands
                • Authenticity is still important
                  • 2020 is unknown and unpredictable
                    • Keep an eye out, but not everything is political
                    • State of the Economy

                      • Economic overview
                        • Figure 1: Key economic indicators as of May 2019
                      • Consumer confidence hits new high, but will it stay?
                        • Figure 2: Consumer confidence, January 2009-May 2019
                      • Un- and underemployment remain low, but have not changed significantly
                        • Figure 3: Un- and underemployment, January 2009-May 2019
                      • Disposable personal income increases compared to 2018
                        • Figure 4: Disposable personal income change from previous period, January 2009-April 2019
                      • Personal saving rate slightly down, but consumer spending should remain high
                        • Figure 5: Personal saving rate, January 2009-April 2019
                    • Demographic Breakdown: Political Views

                      • Political views influenced by gender, age and household income
                        • Figure 6: Description of political views, May 2019
                    • Current Financial Situation

                      • US consumers consider their financial situation stable
                        • Figure 7: Current financial situation, May 2019
                      • Slight uptick in positive sentiment toward finances, but relatively consistent
                        • Figure 8: Current financial situation, Q1 2017-Q3 2019
                      • Older consumers are most settled with their finances
                        • Figure 9: Current financial situation, by age, May 2019
                      • Conservative consumers tend to be more confident in their finances
                        • Figure 10: Current financial situation, by political views, May 2019
                    • Change in Financial Situation

                      • Few changes predicted, but nearly half are quite confident
                        • Figure 11: Potential changes in financial situation, May 2019
                      • Younger consumers have the most confident financial outlook
                        • Figure 12: Current financial situation, by age, May 2019
                      • Liberals, centrists not as optimistic about their future finances
                        • Figure 13: Current financial situation, by political views, May 2019
                    • Financial Priorities

                      • Savings remain top priority
                        • Figure 14: Financial priorities, May 2019
                      • Motivations for saving differ based on age
                        • Figure 15: Financial priorities, by age, May 2019
                      • Political views have little effect on financial priorities
                        • Figure 16: Financial priorities, by political views, May 2019
                    • Government Impact

                      • Government impact considered positive for economy, investments
                        • Figure 17: Government impact, positive effect, May 2019
                      • Government impact considered to be negative on gas prices, health insurance
                        • Figure 18: Government impact, negative effect, May 2019
                      • 25-34 year olds most confident in current administration
                        • Figure 19: Government impact, any positive impact, by age, May 2019
                      • Conservatives split on positive impact of current administration
                        • Figure 20: Government impact, any positive impact, by political views, May 2019
                    • Appendix – Data Sources and Abbreviations

                      • Data sources
                        • Consumer survey data

                        Consumers and the Economic Outlook Q3: A Look at Both Sides - US - July 2019

                        £1,954.19 (Excl.Tax)