Consumers have recently become more pessimistic about the U.S. economy, but, despite the financial crisis, most are sitting tight with investment, savings, banking and insurance arrangements.
Researchers at LIMRA International, Windsor, Conn., have published that finding in a summary of results from a recent survey.
“Even with the overwhelming news coverage of the current economic crisis, only 16% of consumers surveyed have taken any action with regard to their financial portfolios,” says Robert Baranoff, a senior vice president at LIMRA.
About 66% of consumers surveyed said economic conditions in the United States were “very unfavorable” in October, up from 49% in March.
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During the same period, the number of consumers who predicted that conditions would improve within the next 12 months more than doubled, researchers found