A piggy bank with a bandage on its side next to a pile of fallen blocks with recession-related words on them. Though 12% of consumers rated acquiring insurance among their top five financial goals, the study found fewer insureds have reviewed (or plan to in the next six months) their current insurance policies than in Fall 2022. (Credit: narawit/Adobe Stock)

Confidence in the economy is down and it’s becoming more common for Americans to dip into their savings for basic needs like housing, healthcare and insurance, according to the latest Nationwide Economic Impact survey.

Only 16% of consumers said they would rate the United States economy as “good” or “excellent” when the survey was conducted March 30 through April 13, 2023 – a decrease of 8 points since the Fall of 2022. Nearly one-fifth of those surveyed said the cost of their insurance is among their top financial concerns.

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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