Nielsen: 71 percent say we’re in a recession

Americans still believe we’re in a recession, but, to advertisers’ undoubted relief, they’re still interested in spending money on fun products.

That’s according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions, which found that the percentage of Americans who believe we’re in a recession dropped by six percentage points during fourth quarter of last year, to 71 percent. It had been 77 percent during third quarter.

Those surveyed were also more optimistic about employment prospects, though consumer confidence did fall by one percentage point.

More than half of Americans, 55 percent, said they think recessionary conditions will continue for another year.

“In the U.S., while the labor market has continued to improve and gas prices have moderated, it was not enough to offset the uncertainty surrounding the fiscal cliff, the potential for rising taxes and the rhetoric around the potential for a subsequent recession during the end of 2013,” said Nielsen senior vice president of global consumer insights James Russo in a statement.

The survey also found that 20 percent of Americans plan to spend on holidays and vacations this year, with 21 setting aside money for technology products and 27 percent buying clothes.

Only 10 percent are investing or putting money toward a retirement fund, while 30 percent are paying their debts.

Tags: 2013, advertisers, are we in a recession, fiscal cliff, fourth quarter, James Russo, nielsen, recession, savings, study, survey, U.S.