Monday, December 6

Americans’ view of the economy worsens

Americans’ views on the nation’s economy have soured in the past month, according to a survey of The Associated Press-NORC Center for Public Affairs Research, and nearly half expect conditions to worsen next year.

Only 35% of respondents consider the United States (US) economy to be good, while 65% consider it bad, says the survey. In September, 45% of Americans rated the economy as good. In January and February, when the coronavirus pandemic swept across the country, the sentiment was similar to now.

47% of Americans expect the economy to get worse next year and 30% think it will improve. In an AP-NORC survey conducted in February and March, the situation was reversed: 44% expected the economy to improve in the next year and only 32% said it would get worse.

The deterioration in American economic sentiment comes as the cost of goods is rising across the country, particularly gasoline prices, and when bottlenecks in global supply chains make it difficult to buy everything from furniture to cars. ANDThe Department of Labor reported in early October that consumer prices in September rose 5.4% from the previous year, the largest annual increase since 2008.

“I grew up in the 1970s and I remember my parents having a hard time making ends meet.”Christian said, referring to the last time the US economy was badly hit by strong inflation. “It’s not as bad as back then, but I feel like any day we could go off the rails.”

Voice of America (VOA)