United States
Approach
The new Franklin Templeton-Gallup Economics of Recovery Study is an unprecedented, large-scale research effort that will combine monthly surveys of U.S. adults with big data to capture Americans’ readiness to resume pre-COVID-19 behaviors with the goal of better informing the path to recovery. Our investment teams will also utilize the extensive data set in the construction of their macroeconomic outlook.
Monthly surveys will focus on topics such as consumers’ support for reopening daycares, schools, restaurants, nonessential businesses, as well as statistics on recent visits/orders from restaurants, plane ticket purchases, hotel reservations, etc.
The surveys will be conducted over a six-month period (July-Dec 2020) with a sample size of 35,000 U.S. adults.
Results will be reported at multiple levels, including national, regional, state, and large metropolitan areas. Data will be analyzed by income, race/ethnicity, age, gender, political party, etc.
Findings
Which Americans Are Most Likely to Be Eating Out Again?
Willingness to dine out predominantly varied among environment circumstances like restaurant seat capacity, indoor/outdoor seating options, and demographics such as political affiliation, age, and having children.
52% of U.S. Air Travelers Now Uncomfortable Flying
About half of American adults who flew at least once a year before the pandemic currently say they would not be comfortable flying, with results significantly varying by age, political affiliation, flight duration, and plane capacity.
Broad Bipartisan Support for Additional Stimulus in U.S.
70% of Americans say they would support the government sending an additional economic impact payment (EIP) to all qualified adults.
Americans Favor Saving Over Spending Until Vaccine
In these uncertain times, Americans largely plan to keep saving rather than spending in the near term.
Consumers' Likelihood to Visit Businesses Stable in August
Likelihood to shop in person for essential items like food and medical supplies varies little by their perception of whether the COVID-19 situation is getting better or worse.
Multimedia
Sonal Desai Discusses Fixed Income Markets And The Study On Yahoo Finance
While there are many unknowns regarding the coronavirus, there are also many misunderstandings.
IMPORTANT LEGAL INFORMATION
All investments involve risks, including possible loss of principal.
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice.
Results from this study are based on self-administered web surveys from an opt-in sample provided by Dynata of 15,014 U.S. adults, aged 18 or older. The survey was conducted July 2-14 and August 3-11, 2020.
Gallup weighted the obtained sample to correct for nonresponse. Nonresponse adjustments were made by adjusting the sample to match the national demographics of gender, age, race/ethnicity, region, level of education, marital status, and employment status. Demographic weighting targets were based on the Census Bureau’s 2018 data release of the American Community Survey and the Current Population Survey (February 2020).
A margin of sampling error has not been calculated as this study relies upon an opt-in, web-based sample.
This material reflects the analysis and opinions of the authors as of the dates on the respective content and may change without notice. It may differ from the opinions of other portfolio managers, investment teams or platforms at Franklin Templeton Investments. It is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment or strategy.
Data from third party sources may have been used in the preparation of this material and Franklin Templeton (“FT”) has not independently verified, validated or audited such data. FT accepts no liability whatsoever for any loss arising from use of this information and reliance upon the comments, opinions and analyses in the material is at the sole discretion of the user. Any companies and/or case studies shown herein are used solely for illustrative purposes; any investment may or may not be currently held by any portfolio advised by Franklin Templeton.
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