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Survey finds Americans expect recession

By Furniture Today Staff -- Furniture Today, October 14, 2001

NEW YORK — Nearly half of all Americans believe the Sept. 11 terrorist attacks will push the United States into a recession, The Conference Board reports.

The special consumer survey was based on a representative sample of more than 750 U.S. households and was conducted via phone on Sept. 18 and 19 by NFO WorldGroup. The board will conduct a follow-up survey later in October.

The survey indicated that 47% of consumers believe the attacks will send the country into recession. Slightly more than 30% said they or a member of their household would be postponing or canceling plans to travel by air because of the attacks.

Nearly 90% of those surveyed said they would not postpone major purchases, such as furniture, due to the terrorist attacks.

About 20% said they will not be making financial investments because of the Sept. 11 attacks.

Lynn Franco, director of the board's Consumer Research Center, said, "These numbers signal continued difficulties for the financial sector. Current volatility in the financial markets suggests that 20% number won't be declining any time soon."

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