52% of Those Surveyed Say That Economy is Getting Worse
According to the Rasmussen Consumer Index (link below), many Americans would probably laugh at the idea of green shoots blossoming forth from our recession-scorched economy.
The Rasmussen Consumer Index, according to their site, "is derived from nightly telephone surveys of 500 adults and reported on a three-day rolling average basis."
The baseline for the index (100.0) was established in October of 2001.
Anything below 100.00 means that the typical American is more worried about the economy and their situation specifically than in October of 2001.
Anything higher than 100.0 and they are more confident than they were nearly eight years ago.
The highest reading came in January of 2004, when the index scored a 127.0.
The lowest reading came in March of 2009, when the index scored a 54.7.
The latest reading came in at 69.7. This is up 15 points from March of 2009, but down six points from just a month ago.
Of those surveyed, only 26% adults feel as though the economy is actually improving.
52% of those surveyed believe that the economy is getting worse.
I can't say that I am surprised by the findings, as they certainly match the overall tone that I am hearing when I speak to everyday people.
All of the talk about "green shoots" certainly seems to be premature.
Unemployment numbers continue to rise. Home prices are expected to continue to drop. California faces a major fiscal emergency. The United States is facing ballooning deficits and a crippling debtload. The bad news continues to pile up - I don't have to remind you about that.
Until Joe and Jill Average start to feel better about their situations, the economy will not begin to stage a meaningful recovery.
The average American is still refusing to open their wallet or purse strings. The United States is a consumer-driven economy, and real recovery won't come until the average American starts to begin to feel comfortable about spending their hard-earned dollars once again.
Many people feel as though the US won't begin to recover until 2010 at the earliest.
Given the mindset of the average American at this point, it is pretty hard to disagree with these people.
If you believe that the economy is starting to recover, let me ask you:
1. What are the catalysts for this recovery?
2. What are you seeing that leads you to believe that a recovery is currently taking place?
Source: Rasmussen Consumer Index - 26% Say the Economy is Getting Better
Filed under: General Knowledge