UNIVERSITY OF SOUTH CAROLINA INSTITUTE FOR PUBLIC SERVICE AND POLICY RESEARCH

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1 UNIVERSITY OF SOUTH CAROLINA INSTITUTE FOR PUBLIC SERVICE AND POLICY RESEARCH South Carolinians Guardedly Optimistic About the Economy Columbia, SC -- As they make their way through the busy Christmas shopping season, South Carolinians are generally confident about their economic situation and about conditions in the country as a whole according to a poll recently conducted by the University of South Carolina s Institute for Public Service and Policy Research. Slightly more than half of South Carolina adults say that they are better off financially today than they were a year ago, while 27% feel they are worse off, and 20% believe things are about the same. Looking ahead, 42% think that they and their families will be better off financially a year from now, with 51% believing things will be about the same, and only seven percent feeling they will be worse off. South Carolina consumers also believe that this is a good time for people to buy many household items, such as a refrigerator or stove. More than two-thirds of respondents said that now was a good time to make such purchases, 26% thought it was a bad time, and six percent were undecided. When asked about economic conditions in the country as a whole, respondents were guardedly optimistic about the near term, but expressed more concern about the next five years. Close to half of those interviewed said that the next 12 months will be good for business conditions, while about one-third thought the next year would bring bad times. When asked to look ahead to the next five years, 37% thought this would be a period of continuous good times, 54% believed there would be widespread periods of unemployment during this period, and 10% had some other view about economic conditions in the country. There were a number of differences in opinion among groups on these questions. Men were more likely than women to feel they are better off financially today than they were a year ago and that they will be better off a year from now. Men are also more optimistic about business conditions, both in the next 12 months and the next five years. Younger people are also more likely to say they are better off than they were a year ago and will also be better off a year from now. A much higher percentage of older people, particularly those age 65 and above, feel that things have stayed the same and will continue to do so. A higher percentage of respondents with less than a high school education or from families with incomes under $25,000 said they were worse off today than a year ago, and these groups were also more likely to feel this was a bad time to buy big things for the home.

2 Survey Methodology These findings are based on a telephone survey of the South Carolina adult population conducted by the Institute for Public Service and Policy Research at the University of South Carolina from September 27 through November 7, A random sample of 833 adults age 18 or older from throughout the state was interviewed. In 95 of 100 cases, the statewide estimates will be accurate to plus or minus 3.5%. In addition to sampling error, there are other sources of variation inherent in public opinion studies, such as non-response, question wording, or context effects that can introduce error or bias. Results reported for subgroups have the potential for somewhat larger variation than those for the entire population. Reported percentages may not total to 100% due to rounding. Respondents to this survey were asked: We are interested in how people are getting along financially these days. Would you say that you (and your family living there) are better off or worse off financially than you were a year ago? Now looking ahead--do you think that a year from now you (and your family living there) will be better off financially or worse off, or just about the same as now? About the big things people buy for their homes--such as furniture, a refrigerator, stove, television, and things like that. Generally speaking, do you think now is a good or bad time for people to buy major household items? Now turning to business conditions in the country as a whole--do you think that during the next 12 months we'll have good times financially, or bad times, or what? Looking ahead, which would you say is more likely--that in the country as a whole we'll have continuous good times during the next five years or so, or that we will have periods of widespread unemployment or depression, or what?

3 TABLE 1 We are interested in how people are getting along financially these days. Would you say that you (and your family living there) are better off or worse off financially than you were a year ago? Better Off About the Same Worse Off N TOTAL Male Female Black White or Older Less than High School High School Diploma Some College College Degree Less than $25, $25,000 - $49, $50,000 - $74, $75,000 and Over Within City Limits Suburban Rural Upstate Midlands Lowcountry

4 TABLE 2 Now looking ahead--do you think that a year from now you (and your family living there) will be better off financially or worse off, or just about the same as now? Better Off About the Same Worse Off N TOTAL Male Female Black White or Older Less than High School High School Diploma Some College College Degree Less than $25, $25,000 - $49, $50,000 - $74, $75,000 and Over Within City Limits Suburban Rural Upstate Midlands Lowcountry

5 TABLE 3 About the big things people buy for their homes--such as furniture, a refrigerator, stove, television, and things like that. Generally speaking, do you think now is a good or bad time for people to buy major household items? Good Time Pro-Con Bad Time N TOTAL Male Female Black White or Older Less than High School High School Diploma Some College College Degree Less than $25, $25,000 - $49, $50,000 - $74, $75,000 and Over Within City Limits Suburban Rural Upstate Midlands Lowcountry

6 TABLE 4 Now turning to business conditions in the country as a whole--do you think that during the next 12 months we'll have good times financially, or bad times, or what? Good Good with Bad with Bad Times Qualifications Pro-Con Qualifications Times N TOTAL: Male Female Black White and Over Less than High School High School Diploma Some College College Degree Under $25, $25,000-$49, $50,000-$74, $75,000 and Over Within City Limits Suburban Rural Upstate Midlands Lowcountry

7 TABLE 5 Looking ahead, which would you say is more likely--that in the country as a whole we'll have continuous good times during the next five years or so, or that we will have periods of widespread unemployment or depression, or what? Continuous Periods of Wide Good Times Unemp/Depression Other N TOTAL Male Female Black White or Older Less than High School High School Diploma Some College College Degree Less than $25, $25,000 - $49, $50,000 - $74, $75,000 and Over Within City Limits Suburban Rural Upstate Midlands Lowcountry