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This Consumer Sentiment Study was fielded amidst extraordinary circumstances, from the continued spread of COVID-19 to global protests around racial injustice. Further, it was recently confirmed by the National Bureau of Economic Research that the United States officially entered a recession in February of this year as the pandemic crippled the economy. This study tracks the effects of these historic events on consumer behavior.
We are interested in how people are getting along financially these days. Would you say that you are better off or worse off financially than you were six months ago?
Now looking ahead—do you think that six months from now you will be better off financially, or worse off, or just about the same as now?
How long do you think it will be before you feel comfortable returning to certain activities?
Compared to your pre-COVID behavior, how do you anticipate that your spending will change in the following areas in the coming months?
How long do you think it will take for the U.S. economy to make a full recovery and return to pre-COVID-19 levels of activity?
The Consumer Sentiment Study is a quarterly survey from Marcus by Goldman Sachs®, which aims to track Americans’ perception of current and future financial climates, market conditions and plans for their money. This installment of The Consumer Sentiment Survey was conducted among a nationally representative sample (using U.S. Census data) of 1,501 Americans. The survey was conducted June 22-25, 2020.
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Updated for tax year 2020