Americans’ level of confidence in their overall financial security held steady in June, as the Country Financial Security Indexticked down just one-tenth of a point. Results indicating a more optimistic near-term view of Americans’ finances were offset by continued uncertainty about longer range issues. The survey is conducted and released every other month.
While the overall index remained stable, the short-term component–an indicator of immediate financial concerns–increased for the second consecutive month. According to researchers, this momentum was driven by improved ratings of overall financial security and an increase in the number of Americans able to set aside money for savings and investments. Among respondents, 41% rate their financial security favorably, up two points from April and up six points from the beginning of the year. A full 46% were able to save, up one point from April and three points from February.
Key findings include:
? In contrast to short-term sentiments, confidence about long-term finances has yet to show significant signs of recovery.
? The number of Americans confident they will have enough money for a comfortable retirement dipped one point to 56%.