Americans cutting back spending

Universal McCann/InsightExpress have collaborated on a survey which shows that the situation in Iraq and continuing weakness in the US economy have caused many consumers to cut back on spending.

70% of the consumers responding to the survey characterized the US economy as "weak."

About 50% feel it's a bad time to be on a job hunt, 33% think it's a bad time to book passage on an airplane, and 30% think its a bad time to go on a vacation.

Said Universal McCann's Jon Swallen, "Clearly Americans are exercising restraint when it comes to spending. Not only are people cutting back on big ticket items, but they are also spending less on relatively inexpensive entertainment activities like dining out."

The survey identified nine such areas, giving the percentage of respondents who planned cutbacks.

Expense	% cutting back
Going to the movies	42%
Eating out/fast food	41%
Home electronics	37%
Alcoholic beverages	36%
Eating out/casual	35%
Household appliances	35%
In-home media entertainment	32%
Home improvement/repair	30%
Favorite activity/hobby	28%
Source: Universal McCann/InsightExpress