Consumers at All Income Levels Cutting Back

Reston, VA, Sept. 3, 2008--The U.S. economy has even more people worried than earlier this year, according to a new report from comScore.

The study indicates that all consumer segments are cutting back on new purchases because of inflation and the housing crisis.

The study found that nearly three-quarters of consumers making $100,000 per year or more are now cutting back on spending. That is a change of 6 percent since April of this year. About 81 percent of consumers making between $50,000 and $99,999 per year are cutting back and 86 percent of consumers making under $50,000 per year are cutting back on expenses.

"This economic downturn has eroded consumer confidence among all consumer income groups," said Gian Fulgoni, comScore chairman. "Even those consumers with the highest income are increasingly feeling the negative impact of economic factors and are changing their buying behavior accordingly."