Almost 65% of Americans (or two in three) believe a double-dip recession is likely to happen. A double dip recession is defined as a recession followed by a short-lived recovery, followed by another recession. Of the 1043 Americans polled by Strategy-One, New York, only 5% feel a full economic recovery is likely by the end of the year, while another 21% expect recovery by the end of 2011. Nearly half (44%) of respondents fear the double-dip recession will be worse than the first, with 21% worried it will be “much more severe,” and another 24% thinking it will be less severe.

Faced with this uncertain financial future, Americans have cut back on spending, claiming to continue doing so in the next three to four months.

  • 41% are planning to cut back spending, compared with 8% who plan an increase
  • 35% say they plan to cut back on online spending, compared with 12% who plan to increase it
  • 79% say they are planning to spend less money for Christmas this year
  • 87% say they don't plan on making any big-ticket purchases, such as a house or car
  • 49% have already delayed making a big-ticket purchase during the past few months
  • 26% of Americans don't expect their personal finances to fully recover from the downturn until after 2011, and 26% think their personal finances won't ever fully recover
  • To learn more about this survey, visit