Word: katona
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Dates: during 1970-1979
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...that the state of the economy is their biggest concern. Unemployment has been lower than during any previous recession; yet three out of four Americans expect rising unemployment and economic difficulties this year. "The notion that things will be better tomorrow has received quite a shock," says Economist George Katona...
...women. The average American family has a fat $7,610 put away in savings accounts. Usually, a lot of money begins to burn a hole in the consumer's pocket, and a splurge of spending begins. But the usual consumer psychology may have changed. Last week George Katona, a consumer expert who heads the University of Michigan Survey Research Center, reported that the consumer's confidence is low and still falling, largely because he is worried about his job security and about a prolonged recession. In marked contrast to earlier years, says Katona, today's consumers spend...
...George Katona, head of the University of Michigan Survey Research Center, which regularly polls 1,500 consumers to check on their buying intentions, predicts that Christmas sales will be no greater than last year's. If so, the real volume of goods actually sold could decline by as much as 6% -because most items carry higher price tags than last year. Consumers are saving an abnormally high 7.6% of their incomes; ultimately they will begin to spend considerably more, but Katona reckons that they will hold back until they feel much more secure about the nation's economy...