In May, as people were planning their summer vacations over one-third of Americans (36%) said they would be taking a vacation away from home lasting longer than a week in the next six month. The end of summer tends to mean less travel and now only 28% of Americans say it is likely they will take a week-long vacation in the next six months.
Almost unchanged from May, one in five Americans (19%) say they will be likely to buy a new computer in the next six months compared to 21% at the beginning of the summer. Also unchanged is that 7% of Americans would be starting a new business in the next six months compared to 8% who said so in May.
Besides the economy heating up, there is also talk of the residential housing market starting to see some rebound. However, just 14% of Americans say they are likely to move to a different residence and less than one in ten (8%) say they will be likely to purchase a house or condo in the next six months. In May, one in five U.S. adults (19%) said they were likely to move in the next six months and 9% were likely to purchase a house or condo.
Looking at bigger ticket items, people are still not quite ready for these types of purchases. Just one in ten Americans (10%) say they are going to buy or lease a newly manufactured car, truck or van in the next six months, almost the same as in May, when 12% said the same. When it comes to buying a boat or recreational vehicle in the next six months, just 4% say they will do so compared to 5% in May who said they would.
So what?
The economy is still a major issue of concern for people and with the worries surrounding the job market that is probably one of the reasons that people are not ready to start spending yet. When the job market begins to turn around, people would be more secure that they will not lose their jobs or, if they already have, are closer to finding a new job. And, once they have that security they may be willing to eat out more and go to the movies more frequently.
