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.
To learn more about this survey, visit www.strategyone.net.