There is a widening divide between men and women when it comes to their outlook for the economy and their own financial situations in the next twelve months, according to a new nationwide survey issued today by Citigroup and conducted by Hart Research Associates.
While optimism for the future was found to have declined overall, women's confidence held almost steady while men have turned increasingly sour since March, the study found.
“Many women are CFOs of their households, controlling the purse strings on purchases, so their positive near-term outlook on the economy may be a positive indicator for recovery,” said Lisa Caputo, Chairman and CEO of Citi's Women & Co., a division of Citi dedicated to helping women achieve their financial goals. “However, it’s clear they have tempered expectations that recovery and stability for their households may remain in the far distant future.”
The survey found that while current assessments of local economic conditions have improved slightly since March, rising 3 points for men (24 percent) and 4 points for women (23 percent), only 50 percent of men believe that the business conditions where they live will get somewhat (46 percent) or much (4 percent) better in the next 12 months. That's compared with 56 percent of women who believe that business conditions will get somewhat (51 percent) or much (5 percent) better.
Men's expectations for their own financial situation have declined too while women's expectations have held steady, the report said.
Also, 63 percent of women and 61 percent of men believe it will be at least two or three years, if not longer, before the economy stabilizes for their household.
