Six in 10 consumers see recession: survey

By Brad Dorfman
Wed Nov 7, 8:30 AM ET



CHICAGO (Reuters) - Six in 10 consumers say a recession is likely in the next three to six months, according to a survey on holiday spending released on Wednesday.

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In a telephone survey by America's Research Group, 45.7 percent of 1,000 respondents said a recession was "somewhat likely," and 14.3 percent said it was "very likely." Forty percent said a recession was "not likely."

The interviews were conducted November 1-4. The error factor is plus or minus 4.3 percent.

Recession fears ahead of the holiday shopping season have been kindled by concerns about jobs and the U.S. housing meltdown.

The survey found the number of consumers who feel worse off financially this Christmas season has risen to almost one-third of all Americans, up from 18.5 percent last year.

Still, even with questions about the strength of the economy, the wealthy seem intent on spending for the holidays, no matter what.

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