New survey: Gender divide on economic outlook.

By Lisa Caputo, Citi Executive Vice President and Chief Marketing Officer August 12, 2010 11:58 AM

Recently, Citi released the results of a new nationwide survey of American women. We focused on women because they are a critical barometer for the U.S. economy. They drive the majority of household spending decisions, and are increasingly managing how their families invest and plan for their financial future.

Interestingly, the survey, conducted by Hart Research Associates, revealed a gender divide between men's and women's outlooks for the economy. While optimism for the future declined overall when compared to a similar survey conducted in March, women's outlook has held almost steady while men's attitudes have turned increasingly sour.

So why the gender divide? Employment is likely a key factor, as reports indicate that men have been particularly hard-hit by unemployment during the recession. But I believe women's resilience can also be attributed to our economic momentum, which has been steadily building. Women control 51 percent of U.S. wealth,* make the vast majority of consumer spending decisions, and are on the verge of outnumbering men in the U.S. workforce for the first time in U.S. history.

Young women in particular are well-positioned to benefit, which may explain why the survey found that young women (18- to 39-year-olds) are most optimistic in their outlook for the economy. More than four in five (82 percent) young women believe their own financial situation will improve in the next 12 months, whereas 59 percent of women over 40 feel the same, and 61 percent of young women expect business conditions in their area to improve in the next 12 months, compared to 53 percent of women over 40.

While the survey found that when it comes to economic recovery women believe we are in for a long haul, young women's optimism is certainly a bright spot amid the economic downturn.

More information on the Citi gender divide survey is available.

*2009 survey by the Federal Reserve Board.