Whatever measures are taken by the government, this is a serious concern, especially as this may go on for months.
Fortune poll: 63% of Americans worry they won’t be able to pay their bills during the coronavirus crisis
The number of coronavirus cases in the U.S. are growing at a rapid pace, and the fallout is spilling over into everyday life in a way not seen in generations.
To get a pulse on how the coronavirus outbreak and its economic shocks are impacting households, Fortune and SurveyMonkey polled over 2,900 Americans between March 16 to 17. We did a similar survey between March 9 to 10—and now we can see how opinions have changed in one week's time.
The numbers to know
82%... of Americans say a recession is likely in the next year, compared to 65% who shared that opinion last week. That number is 91% among Democrats and 75% among Republicans.
63%... of Americans are worried they won't have enough money to pay their normal monthly bills.
64%... of Americans say the coronavirus outbreak is disrupting their household spending levels. Just over half (51%) are spending less on eating out, while 53% are spending more on groceries.
69%... of Americans are worried that they or a relative will be exposed to the coronavirus. That number was 50% last week.
A few deeper takeaways
1. Americans are ramping up spending on groceries and household items.
The shock caused by the coronavirus outbreak has Americans shifting how they're spending their money. As panicked buyers rush to stock up, the Fortune-SurveyMonkey poll finds around half of Americans are spending more on groceries (53%) and household essentials (40%).
Meanwhile, many Americans are spending less on eating out (51%), travel (38%), entertainment (33%), and transportation (22%). These decreases in spending are likely to result in layoffs or cut hours in those industries. Read More