Poll: Americans Bearish On Economic Recovery

Sad trader

Photo: AP

A new Bloomberg poll shows Americans have a bleak outlook on the economic recovery, even as data indicate the economy is on the upswing.Some highlights from the survey:

  • Roughly 14% of Americans believe a lasting economic recovery has taken hold.
  • Nearly half of the respondents said the recovery is “fragile.”
  • More than a third believe the recession never ended.
  • 63% of Americans think the nation is on the wrong track.
  • Only 3% of Tea Partiers think recovery is underway.

The survey, which also looks at consumer behaviour and the housing market, indicates that most Americans have yet to feel the effects of the nascent economic recovery. Nearly half of those polled said they are personally worse off than they were two years ago, despite a 95% rise in the S&P 500 index over the same period and six quarters of “sustained” economic growth.

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