NEW YORK, April 24, 2017 /PRNewswire/ -- The political
environment in Washington poses
the biggest threat to the U.S. economy over the next six months,
according to a new Bankrate.com report. 38% of Americans chose that
response, followed by political/economic instability overseas
(19%), terrorism (14%), rising interest rates (10%) and a decline
in the stock market (9%).
Click here for more information:
http://www.bankrate.com/banking/savings/financial-security-0417/
Back in September, amid the uncertainty of a contentious
campaign, 61% said the outcome of the election was the biggest
economic risk over the next six months. While the election was
resolved, worries about the political impact on the economy were
not. Currently, the political environment in Washington is the top economic risk cited by
every age, income, gender, racial/ethnic group and political
affiliation.
"Our survey indicates that many Americans feel they have a lot
riding on what elected leaders do – or don't do – in Washington," said Mark
Hamrick, Bankrate.com's senior economic analyst. "After all,
it's taxpayers who end up footing the bill and consumers who could
stand to lose or benefit."
- Democrats, higher income households and college graduates are
the most likely to cite the political climate as the biggest
economic risk, whereas those concerns were fairly evenly
distributed back in September.
- Younger millennials (18-26 year-olds) are more likely than
older adults to point to political or economic instability
overseas.
- Interest rate worries doubled since September, with the Federal
Reserve having hiked benchmark interest rates twice in the
intervening months.
The Bankrate.com Financial Security Index retreated from last
month's record high of 106.5 to 104.8, still the third-highest
reading in the past year. Savings (one of the five components)
slipped back into negative territory after turning positive in
March for the first time in 76 months the poll had been conducted.
Both men and women are feeling better about their finances than
they were a year ago. The index is showing particular improvement
for men (their reading is 107.6, versus 101.8 for women).
The survey was conducted by Princeton Survey Research
Associates International. PSRAI obtained telephone interviews with
a nationally representative sample of 1,003 adults living in the
continental United States. Interviews were conducted by
landline (501) and cell phone (502, including 326 without a
landline phone) in English and Spanish by Princeton Data Source
from March 2-5, 2017. Statistical results are weighted to
correct known demographic discrepancies. The margin of sampling
error for the complete set of weighted data is plus or minus 3.8
percentage points.
About Bankrate.com:
Bankrate.com provides consumers with the expert advice and tools
needed to succeed throughout life's financial journey. For over two
decades, Bankrate.com has been a leading personal finance
destination. The company offers award-winning editorial
content, competitive rate information, and calculators and tools
across multiple categories, including mortgages, deposits, credit
cards, retirement, automobile loans and taxes. Bankrate aggregates
rate information from over 4,800 institutions on more than 300
financial products. With coverage of over 600 local markets,
Bankrate generates rate tables in all 50 U.S. states. Bankrate
develops and provides web services to more than 100 cobranded
websites with online partners, including some of the most trusted
and frequently visited personal finance sites on the internet, such
as Comcast, Yahoo!, CNBC and Bloomberg. In addition, Bankrate
licenses editorial content to more than 500 newspapers on a daily
basis including The Wall Street Journal, USA Today,
The New York Times and The Los Angeles Times.
For more information:
Ted Rossman
Public Relations Director
ted.rossman@bankrate.com
917-368-8635
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SOURCE Bankrate.com