美国心态

AUGUST 2025 ABOUT THIS STUDY Survey Methodology •The survey was conducted bydentsuviaToluna, an onlineresearch panel.•Administered on August 14, 2025.•Distributed among a random sample of 800 U.S.respondents 18 years of age or older.•Controls for nationally representative weighting acrossage, gender, region, race and ethnicity (using the latestpublicly available U.S. Census numbers) E X E C U T I V ES U M M A R Y WHERE WE’VE BEEN: THE PAST FOUR WAVES MAY AUGUST JUNE JULY CONTINUED UNCERTAINTY. CAUTIOUS STABILIZATION WITHPERSISTENT DIVIDES. CONTINUED PESSIMISM AHEAD. MIXED SIGNALS AS CONSUMERS‘WAIT AND SEE’. •Economic sentiment showsminimal movement, withAmericans maintaining recessionfears.•Nearly three-quarters continueplanning spending changes dueto tariff concerns, signalingpersistent uncertainty abouttrade policy impacts.•Consumers continue to makestrategic spending decisions—aggressive cuts to foodspending and trading down onessentials while protectingother discretionary categories,such as fitness or electronics. •Consumers pessimism continuesto increase when it comes to thecurrent state of the economyand looking to the future.•Tariffs continue to be seen asdriving more negative impactsthan positive impacts.•Consumers have “pulled up”select purchases, while tampingdown spend in other categoriesand looking for budget orsecond-hand alternatives toproducts. •Economic anxiety begins to cool,but Americans remain splitbetween those finding financialrelief and those facingintensifying pressure.•Personal financial outlooksdiverge between improvementversus deterioration.•Consumer spending revealssophisticated prioritymanagement-protectingvalued discretionary categorieswhile aggressively trading downon essentials. •Perceptions that the impact oftariffs will be negative aresoftening as price hikes have yetto materialize.•Many consumers appear to besomewhat loosening the pursestrings to increase discretionaryspending.•At the same time, anxiety aboutthe future US economycontinues to grow.•More consumers report notbeing able to afford theirmonthly expenses–acrossincome levels. VIEWS ON THEECONOMY VS.LIVED EXPERIENCE ECONOMIC SENTIMENT HOLDS STEADY AMID MIXED SIGNALS. Economic sentiment appears largely unchanged from July, with 37% viewing the economy positively and 63% viewing the economy negatively.BBCrecentlyreported that the U.S. economy is giving conflicting signals. While some indicators point to an economic slowdown—such as weak job growth and risinginflation—others, like resilient consumer spending and strong corporate earnings, suggest stability. MILLENNIAL CONFIDENCE COOLS FROM RECENT HIGHS. Millennial optimism appears to be softening, dropping 3 points to 48% from July's peak, while Gen Z economic confidence remainsstubbornly low at 32%. Thisshift comes as recentFederal Reserve datasuggests younger demographics may hit harder by recent labor slowdowns and market changes. HALF OF AMERICANS STILL BELIEVEU.S.IN RECESSION TERRITORY. Recession perceptions remain virtually unchanged, with 49% believing the economy is beginning or already in recession—identicalto July's 50%. This persistentdisconnect with official economic data (the U.S. hasn't been in recession since 2020) reflects deeply entrenched pessimism. AMERICANS EXPECT MORE PAIN THAN GAIN FROM TARIFFS. Negative tariff expectations remain consistent at 51%, and positive expectations hold at 26%. This comes as trade policy discussions intensify, though actualtariff implementations have remained limited. FINANCIAL STRAIN MAINTAINS GRIP ON HALF OF AMERICANS. Personal finance sentiment shows little improvement, with 49% reporting their finances are in "not very good" or "terrible" shape—unchanged from July.Meanwhile, 51% report struggling to afford some or all monthly expenses, also largely the same as July. ROLLING 3-MONTH AVERAGE: ABILITY TOAFFORD MONTHLY EXPENSES IN PAST MO ROLLING 3-MONTH AVERAGE:SENTIMENT ABOUT PERSONAL FINANCES HIGHER EARNERS ARE MORE INSULATED FROM ECONOMIC ACTIVITY. The financial security divide remains stark, with 76% of high earners feeling financially secure versus just 37% of lower-incomehouseholds—a 39-point gapthat's held relatively steady. SPENDING CHANGES DUE TO TARIFFS SHOW MODEST SOFTENING. Tariff-related spending changes plateau with 73% planning adjustments, down modestly from prior months. The most common strategies remain postponingmajor purchases (27%) and reducing spending on imported products (27%). This slight decline suggests adaptive behaviors may be crystalizing. YOUNGER CONSUMERS LEAD ALTERNATIVE SHOPPING STRATEGIES. Gen Z and Millennials lead behavioral shifts, aiming for more secondhand/used alternatives. This aligns withrecent reportsshowing thrift and resale marketsgrowing 15% year-over-year, driven primarily by younger consumers. FOOD SPENDING BEARS HEAVIEST CUTS IN CONSUMER BUDGETING. Recentretail sales datareinforces our findings. The numbers show 0.5% growth in July,