May 30, 2023 — Numerator’s monthly Consumer Sentiment Study continues to measure how consumers feel about the economy, the pandemic, and other market influences.
 
Here are key takeaways from May:
 

• Slightly down from April, 59% of respondents reported having a high level of concern for the economy.
• Sixty-seven percent of consumers feel like the country is in an economic recession, and 68% believe it will get worse in the next few months.
• The majority of respondents (78%) believe inflation will increase in the next few months.
• Thirty-eight percent of consumers believer their primary concern over the next few months will be personal finances.
• Compared to last month, consumers are growing more uncomfortable splurging on premium or luxury items (75%) and taking money out of personal savings or retirement accounts (73%).
• In response to rising prices, 42% plan to cut back on dining out, 38% plan to cut back on electronics, and 38% plan to cut back on traveling.

 
For more information: numerator.com.