WHAT THE DATA SAY: 58% say economy is on the wrong track – up 5 points from September

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

AMERICA’S MOOD SOURS

The mood in the country has deteriorated, compounded by economic disruptions and the government shutdown, according to our November Harvard CAPS/Harris Poll.

• 54% say the country is on the wrong track – up 3 points from September.
• 58% say the U.S. economy is on the wrong track – up 5 points from September.
• 45% say their personal financial situation is getting worse – up 2 points from September.
• Inflation (35%) and the economy and jobs (33%) remain the top issues.
• Health insurance (46%) and food security (40%) are the two areas Americans say they need help facing.
• 75% opposed the government shutdown – up 5 points from September.
• 48% were personally affected by the shutdown.
• See also: It’s Not Just Affordability, Americans Anxious Over Jobs Too

LIFE ON HOLD FOR HOME-BUYING

Aspiring homeowners (71%) are delaying at least one major life decision – getting married, having children, career changes and even pet ownership – until they can afford to buy a home of their own, based on our Harris Poll research with Coldwell Banker.

• Being delayed until they can afford a home: marriage or having children (18% each), changing jobs (17%) and starting a business (15%).
• 56% say homeownership right now is more important than getting married or having children (42%), retiring by 67 (39%), building a successful career or business (39%) or earning a college degree (23%).
• 84% are willing to make concessions, such as taking on a side job (42%), buying a smaller or a fixer-upper (35%) or moving to more affordable areas (35%).
• 19% of Gen Z and 14% of Millennials have moved in with parents or in-laws to save to buy a home.

CLIMATE CHANGE CONTRADICTION

While a vast majority of global citizens believe in climate change, ineffective messaging leaves them doubtful of a solution, according to our Harris Poll report with the Milken Institute.

• 95% of people globally believe climate change is happening.
• 83% have personally experienced the impact of it.
• 31% say climate concerns dominate their mental space – compared with 54% who say economic concerns do.
• 88% say economic messaging must be included in climate messaging to result in real change.
• 79% say climate activism would be more effective through community-level interventions than global frameworks.

CEOs PREFER AI OVER HUMAN SPEECHWRITERS

Today, 57% of CEOs would choose a custom-trained AI speechwriter over a professional human speechwriter, based on our HarrisX-Ragan survey of communications and business leaders.

• 83% of CEOs say they value their Communications team – mostly for employee (42%) and executive communications (28%).
• 30% of communications work already is AI-driven. By 2030, that figure is expected to jump to 55%.
• The most important skills for a Communications team, according to CEOs: strategic thinking (42%), creative problem solving (40%) and being calm under pressure (37%).

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