Survey: Slow recovery creating pessimism

By Matrix | Published: October 23, 2009

The stock market’s moving up and some are declaring an end to the . So, why are people still so pessimistic?

A new national survey says the reality has sunk in that true financial recovery for most people won’t come soon. As a result, aren’t very interested in , they’ve concluded is even further away and they’re increasingly skeptical that will be there when they need it.

The survey by Sun Life Financial Inc. shows 77 percent of between 18 and 66 say they’re cutting spending, that’s a 10 percent increase from a similar survey completed earlier this year.

Of those cutting spending, nearly eight in ten are spending less on entertainment and eating out, and more than half have put off a home improvement project or buying a car.

What’s more, the for retailers is that 60 percent said they will spend less on .

Source/Full Story:  msnbc.com

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