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Outlook for 2004 – Americans' Plans and Worries
Americans are more likely to cut down on calories than on spending this year, according to the 2004 Outlook Study by RoperASW. The annual study of American adults addresses consumer attitudes about economic and lifestyle issues.
Completed in early December, the study found a growing financial confidence with 43% of Americans saying they are generally optimistic about the future of the economy, up from 36% in January '03. Seventy-one percent say they are generally optimistic about their personal situations and only 5% say they feel pessimistic.
This optimism is reflected in unwillingness to tighten belts. When asked about cost cutting measures if the economy were to weaken in the next three months, there was a significant decline in the number of people willing to hold off on spending activities:
| | Dec. '03 | Jan. '02 | Sept. '01 | | | % | % | % | | Cut down on luxuries or non-essentials | 66 | 78 | 82 | | Postpone purchase of latest high tech items | 57 | 63 | 62 | | Go out to restaurants less often | 55 | 63 | 67 | | Go out less often for entertainment | 50 | 62 | 63 | Put off buying items for household or making
household repairs | 39 | 45 | 45 |
'Consumers have weathered some very difficult economic times and though the uncertainty lingers, they are less inclined to hunker down', said Ed Keller, CEO of RoperASW. 'For many who are still cautious about the improving economy, this translates into a search for affordable luxuries such as spa days instead of extended vacations'.
Top of the list of New Year's Resolutions is a change in eating habits: | Subject | % making resolution | | Eating habits | 43 | | Overall appearance | 34 | | House or apartment | 32 | | Car | 31 | | Present job | 22 | | Family life | 19 | | Partner or spouse | 10 |
Asked about major personal concerns for 2004, more people cited the rising cost of healthcare than the war with Iraq, inflation or having enough money to live and pay the bills. The top concerns are:
| Concern | % expressing | | Rising cost of health care | 71 | | War in Iraq | 64 | | Inflation and high prices | 64 | Having enough money to live right and
pay the bills
| 64 | | Our relations with foreign countries | 61 | | Interest rates | 51 | | Unemployment | 42 | | Stock market | 36 | |
One thousand Americans aged 18+ were interviewed by telephone between December 5 and 7, 2003. The sample is nationally representative of the adult population in the US.
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