According to a recent survey conducted by Affirm, three-quarters of Americans are under the impression that the United States is presently experiencing a recession, despite the absence of an official declaration. The survey, which surveyed 2,000 Americans, emphasizes that inflation and the increasing cost of living are the primary factors driving this sentiment, with 68% of respondents citing these concerns.
Furthermore, 50% of respondents identified the financial difficulties of their peers and family as contributing factors. In general, individuals who believe that the United States is currently experiencing a recession estimate that it commenced in March 2023 and that it will continue until July 2025. This pervasive economic pessimism has resulted in substantial anxiety regarding personal financial futures, with nearly 68% of respondents acknowledging that the current inflation rate is having a negative impact on their future plans, such as savings and major purchases.
In response to these obstacles, numerous Americans are implementing budgeting strategies and pursuing payment options that are more flexible. According to the survey, 89% of respondents prioritize the availability of a predictable monthly budget, while 48% consider 0% APR pay-over-time offers to be essential in their purchasing decisions. The objective of Affirm is to assist consumers in navigating the current economic landscape by providing transparent and responsible financial products, thereby supporting business growth.
