Word: katona
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...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...
...Survey Research Center found in its second-quarter study that an overwhelming 77% of consumers expect prices to rise as rapidly or even more rapidly in the next year as in the past twelve months. The Center found no confidence that higher interest rates would curb inflation. George Katona, director of the survey, noted that earlier questioning showed many consumers expressing confidence that Nixon could bring inflation under control. His interpretation of the new findings: "The Nixon honeymoon is over...
...chopped by 45 minutes from January. In February, also, average real take-home pay for factory workers slipped from $98.81 a year ago to $97.11. But for all that, one bright note was heard last week. After running a new survey of consumer sentiment, Michigan's Dr. George Katona reported an upturn from the November-December low. Higher-income families especially were satisfied that they would either make more money this year than last or at least make as much as last year. Moreover, retail prices are generally holding firm and even falling in scattered instances; in Miami last...
Fatter Wage Hikes. The consumer's income this year will rise at least $40 billion, thanks to more jobs, higher pay and lots of overtime work, as well as higher interest rates on savings deposits, fatter social security checks and Medicare benefits. University of Michigan Economist George Katona, one of the nation's top consumer experts, says that consumers are worried about tight money and inflating prices-the cost of living jumped last month by another four-tenths of 1%, is 141% above the 1957-59 average. But they are still basically bullish. Reason: most of the thousands...
...long postwar upswing. They are unscarred by the 1929 depression and little inclined to worry about another one. In the latest University of Michigan survey of consumers, a remarkable 46% forecast that the U.S. would never again have a recession of even the mild 1960 variety. Says Economist George Katona, the chief pollster: "When we ask why not, we are most often told that 'they' have learned how to avoid a recession...