New Study From TNS Reports One-Third of Adult Americans Plan to Cut Back Spending Due to Subprime Mortgage Crisis

New Study From TNS Reports One-Third of Adult Americans Plan to Cut Back Spending Due to Subprime Mortgage Crisis

Research Reveals Consumer Attitudes and Opportunity for Financial Institutions

NEW YORK, Oct. 15 /PRNewswire/ -- TNS, a world leader in market insight and information, today released highlights from a new survey focused on consumer reaction to the subprime mortgage crisis in the United States, including consumer spending practices, the parties responsible and the severity of the crisis. The research was conducted on the heels of the Federal Reserve's most recent interest rate cut. Among the key survey findings are the following:

   -- One-third of adult Americans plan to cut back on spending because of      the effects of the subprime mortgage crisis, with consumers citing      major cutbacks in home improvement/major furniture purchases, travel      for leisure/vacations, and entertainment (e.g. movies, sports and      concerts) at 17 percent /technology purchases closely follows at 14      percent   -- Those with children under 18 years of age are significantly more likely      to cut back on travel for leisure/vacations (21 percent) and home      improvements (23 percent); only two percent of the population plans to      cut back on their children's education   -- When laying blame, seven out of 10 Americans charge subprime mortgage      lenders with creating the crisis, followed by the real estate/housing      industry at 60 percent, the subprime mortgage borrowers at 58 percent      and investors at 57 percent    

Research shows that 76 percent of consumers believe that the subprime mortgage crisis is 'just as serious' or 'more serious' than the dot-com crisis, however, there are other pressing issues on their minds. Another terrorist attack, the war in Iraq, and the U.S. healthcare system were ranked as Americans' top three concerns ahead of the subprime mortgage crisis which came in 6th place.

While there certainly are other worries on consumers' minds, these results show the subprime mortgage crisis will impact spending habits," said Bob Neuhaus, Executive Vice President, Financial Services, TNS North America. "Coupled with the fact many people blame lenders, it is an opportune time for financial institutions to recalibrate their brand image and client interactions by tailoring services to address their customers' financial anxieties."

About the Research

The study is based on a representative national sample of 2,500 people aged 18+ in the TNS 6th Dimension Access Panel. The internet-based survey was conducted September 20th through September 23rd 2007.

   About TNS   TNS is a global market insight and information group.  

Our strategic goal is to be recognized as the global leader in delivering value-added information and insights that help our clients to make more effective decisions.

As industry thought leaders, our people deliver innovative thinking and excellent service to global organizations and local clients worldwide. We work in partnership with our clients, meeting their needs for high-quality information, analysis and foresight across our network of over 70 countries.

We are the world's foremost provider of custom research and analysis, combining in-depth industry sector understanding with world-class expertise in the areas of Retail and Shopper Insights, Stakeholder Management, New Product Development, and Brand and Communications. We are a major supplier of consumer panel, media intelligence and internet, TV and radio audience measurement services.

TNS is the sixth sense of business.

http://www.tns-us.com/

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Source: TNS

CONTACT: Emily Mason of Ruder Finn, +1-312-329-3975, tns@ruderfinn.com,
for TNS; or Jennifer Curran of TNS, +1-212-991-6092,
Jennifer.curran@tns-global.com

Web site: http://www.tns-us.com/

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Profile: International Entertainment