3 in 10 Consumers Cut Spending, Say It’s Their New Normal

Fewer Americans are cutting their spending when compared to prior years, but most of those who are say that this is their “new normal,” according to survey results from Gallup. Overall, 73% of Americans polled in early April said they have been spending either less (41%) or the same (32%) amount of money in recent months than they used to. While the 41% spending less is down from a high of 57% in February 2010, about three-quarters of those believe that this decreased spending will become a new normal pattern, rather than representing a temporary change in their spending patterns. (more…)