April 02, 20 - 1:42 pm - LABS

72% of Brazilians plan to cut spending because of the coronavirus crisis, says McKinsey

According to a survey conducted by McKinsey and reported by Valor Econômico newspaper, seven out of ten Brazilians (72%) are reevaluating their spending. In early 2015, when a survey like this was also done by the company, that percentage was 51%, dropping to 44% in 2019.

The survey also shows that three quarters of the people surveyed (79%) say they believe they need to be cautious about how they spend money, a significant increase from September, when the percentage was 54%. This can be explained by the fact that more than two thirds of people (64%) say that their jobs are less secure due to the coronavirus pandemic.

Also according to the research, the impact on income is greater in the lower classes (B2, C2 and C1). The current situation has already affected gains of 58% of them in the last two weeks and tends to grow to 65% in the next two weeks.