Most Americans believe the United States is currently in the midst of an economic recession despite recent improvements in the market, according to a new poll conducted by The Harris Poll and released this week.
The Harris poll, which was conducted on behalf of The Guardian newspaper, found that just over half of Americans believe the U.S. economy is shrinking, that the U.S. is in a recession, and that the stock market index is down, among other economic issues:
- 55% believe the economy is shrinking.
- 56% think the U.S. is in a recession.
- 49% believe the S&P 500 is down for the year.
- 49% think unemployment is the highest in 50 years.
- 58% blamed President Joe Biden for the state of the economy.
The Guardian noted that the country's gross domestic product has been steadily increasing, the S&P 500 stock market index has risen by about 12% this year following an increase of 24% last year, and unemployment is close to the lowest rate in about 50 years at under 4%.
"What Americans are saying in this data is: 'Economists may say things are getting better, but we're not feeling it where I live,'" John Gerzema, CEO of The Harris Poll, said in a statement. "Unwinding four years of uncertainty takes time. Leaders have to understand this and bring the public along."
The Harris Poll surveyed 2,119 adults across the U.S. from May 10-12 with no margin of error given.
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
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