10/29/2010

Low levels of confidence in the Economy in US and UK

Angus Reid Public Opinion polls in the US and the UK indicate that few people think that things are going very well. For the US:

Just 12 per cent of respondents believe the economic conditions are “very good” or “good” right now.

A large proportion of Americans believe the U.S. economy remains in bad shape, a new Angus Reid Public Opinion poll has found.

In the online survey of a representative national sample of 1,017 American adults, 85 per cent of respondents say economic conditions are bad or very bad right now, down three points since the September Economic Panorama.

A majority of Americans (57%, -3) say their own personal finances are in poor shape. One-in-four respondents (27%, +2) think the U.S. economy will decline in the next six months, while 18 per cent (-2) believe it will improve.

A large majority of respondents (63%, =) continue to state that the recession will not be over until next year or after 2011.

Concerns, Inflation and Debt

Almost half of Americans (48%) are concerned about themselves or someone in their household becoming unemployed, while two-in-five have worried frequently or occasionally about the safety of their savings (45%), the value of their investments (45%) and being able to pay their mortgage or rent (43%). In addition, a third of Americans (32%) are concerned about their employer running into serious financial trouble. . . .


For the UK:

. . . . only 11 per cent describe the current economic conditions as “good.”

Few people in Britain believe the country’s economy is performing well, and a sizeable proportion of respondents expect the situation to worsen, a new Angus Reid Public Opinion poll has found.

In the online survey of a representative sample of 2,021 British adults, 86 per cent of respondents (+4 since September) describe the United Kingdom’s economy as being in poor or very poor condition, while only 11 per cent (-3) describe it as good or very good.

Three-in-five respondents (59%) continue to rate their personal finances as poor. While 11 per cent of Britons expect the UK economy to improve over the next six months, 41 per cent foresee a decline—including 57 per cent of respondents in Scotland.

More than half of respondents (55%) believe the recession will not be over until after 2011, while 16 per cent foresee the end of the downturn in 2011.

Concerns, Inflation and Debt

Unemployment remains the top concern among Britons (40% have worried frequently or occasionally about someone in their household losing their job), followed by the value of investments and savings (both at 32%), being able to pay the mortgage or rent (30%), and employers facing serious financial problems (23%). . . .

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1 Comments:

Blogger Rick said...

Professor Lott, when did you accept that the economy was in a recession? I noted that in a piece your wrote for Fox News in April, 2008 you stressed that "the recession is a media myth". I realize Fox viewers are both more intelligent and richer than the average American, but I bet even they would rather not have lived through the "myth" since 2008!

3/16/2011 7:50 PM  

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