More than half of Americans are delaying major life plans due to uncertainty over the economy, Bloomberg reports.
The results are part of a new study from Wells Fargo. Among that cohort, about one-third say they are putting off buying a home, while one in six have postponed education plans and one in eight have pushed back their retirement.
Although inflation has moderated since a peak in 2022, Americans are still shocked by high prices. About 90% say they were surprised by the cost of activities like eating out or attending a concert. At the same time, 76% plan to cut back on spending this year, up from 67% in 2024, according to the study, which was conducted in September and October.
There have been signs recently that Americans are feeling increasingly pessimistic about the economy. Last week, long-term inflation expectations rose to the highest level in almost three decades, and the consumer sentiment index has declined.
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