87% of Consumers Tightening Their Budgets
October 14, 2008
Most Americans have started to reduce spending, according to a survey from TD Ameritrade Holding Corp. conducted by Opinion Research.
Eighty-seven percent of respondents said they have tightened their belts, with the most commonly reduced types of spending being travel (58%), dining out (57%) and entertainment (53%). Half have cut back on gas and clothing. Most also said they do not expect stock markets to recover in the next six months. Also, 20% of the respondents do not expect a recovery within a year.
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