MyBankTracker.com Survey Finds Most Americans Don't Expect a Recession
Despite news outlets warning of an impending recession, many Americans are optimistic
FOSTER CITY, Calif., Oct. 15, 2019 /PRNewswire/ -- The Federal Reserve cut interest rates, the trade war between the U.S. and China is curtailing investment and there has been a decline in the gross domestic product (GDP). Despite signs indicating an economic slowdown, a survey released today by MyBankTracker.com, a comprehensive resource for financial products, shows half of the Americans polled do not foresee suffering through a recession in the near term.
Respondents in the soon-to-retire category tended to be the most optimistic, though this age group is most likely to feel the pinch in the event of an economic downtown. The survey asked people when they expect the next recession, and got a range of answers. Of those polled:
- 54% of those aged 55-64 do not foresee a recession 'any time soon'
- 52% of men vs. 48% of women do not foresee a recession in the near future
- 49.6% of all respondents do not think there will be a recession 'any time soon'
- 26.9% expect a recession some time in 2020
- Only 8.7% expect a recession by the end of 2019
"Regardless of how Americans foresee the economy in the near future, there should be no drastic changes in how personal finances are handled," advises Jason Reposa, CEO of MyBankTracker.com. "Consumers should always maintain an emergency fund, look to remain employable, and keep a long-term investment strategy. This approach is essential to protect against any financial disaster, whether the economy is good or bad."
The study of 814 respondents was conducted in September through Google Surveys on behalf of MyBankTracker.com (MBT), a QuinStreet website. To read an overview of the survey and its methodology, please visit: https://www.mybanktracker.com/open-data/surveys/study-americans-predict-recession-302659
About MyBankTracker.com
MyBankTracker.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. MyBankTracker.com is a member of the company's expert research and publishing division.
MyBankTracker.com is an independent comparison website helping consumers make smart banking and financial decisions. The mission is to match consumers to their perfect bank by providing and tracking in-depth information on more than 5,000 banks, credit unions and financial products. Using a combination of technology and money management expertise, MBT provides personal finance comparison tools and educates consumers to optimize their relationships with banks and lenders.
Website: https://www.mybanktracker.com
Twitter: @mybanktracker
Facebook: https://www.facebook.com/mybanktracker
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SOURCE QuinStreet, Inc.
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