Consumers Worried After Wall Street Meltdown

Washington, DC - A new Ipsos/McClatchy poll of Americans indicates that the recent Wall Street meltdown has significantly weakened consumer confidence. Six in ten Americans (60%) are not very or not at all confident that the government can restore the confidence of consumers and investors after recent events.

Immediate Effect is Negative...

In thinking about the effect recent events will have on jobs and the economy, Americans are nearly unanimous in perceiving a negative effect - nine in ten Americans (90%) believe the Lehman Brothers bankruptcy and Merrill Lynch sale will have a negative effect on the economy, with only 10% believing events will have a positive effect.

Hard Times Still to Come...

The poll also indicates a perception that recent events are not isolated, but will persist at least in the short term. Three quarters (76%) of Americans believe the home mortgage crisis will continue to get worse; only one quarter (24%) feel the worst of the mortgage crisis is over and things will begin to improve.

Residents of the Northeast (84%) and those earning under $50,000 a year (80%) are more likely to believe the mortgage crisis will continue to worsen.

Effects Not Limited to Mortgage Sector...

Looking forward, Americans are also pessimistic about the state of the overall U.S. economy. Only one in five (18%) believe the U.S. economy will be better off six months from now; just over one third (36%) see the economy about the same as now, and nearly half (45%) believe the economy will be worse off six months from now.

Men (23%), those earning $50,000 a year or more (23%) and college degree-holders (29%) are more likely to believe the economy will be better off in six months, while residents of the Northeast (57%) are more likely to believe the economy will be worse off six months from now.

These are some of the findings of an Ipsos poll conducted September 16-17, 2008. For this survey, a national sample of 647 adults aged 18 or older from Ipsos' U.S. online panel, are interviewed online. Weighting is then employed to balance demographics and ensure that the sample's composition reflects that of the actual U.S. adult population according to census data and to provide results that are intended to approximate the sample universe. An unweighted probability sample of 647 respondents, with a 100% response rate, has an estimated margin of error of +/-3.9 percentage points, 19 times out of 20.

For more information on this news release, please contact: Clifford Young, PhD Senior Vice President Ipsos Public Affairs (312) 375-3328 [email protected]

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Ipsos is a leading global survey-based market research company, owned and managed by research professionals that helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world. Member companies assess market potential and interpret market trends to develop and test emergent or existing products or services, and build brands. They also test advertising and study audience responses to various media, and measure public opinion around the globe.

They help clients create long-term relationships with their customers, stakeholders or other constituencies. Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting and offers a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2007, Ipsos generated global revenues of e927.2 million ($1.27 billion U.S.).Visit www.ipsos.com to learn more about Ipsos offerings and capabilities.