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Americans Still Down on Economy

economy-100723-02 Credit: Dreamstime

If your business has been fumbling along looking for a glimmer of light at the end of the economic tunnel, it might be time to grab a flashlight.

In spite of Commerce Department statistics which indicate the economy is back in growth mode, Americans aren’t feeling particularly optimistic about the economy overall. In fact, 62 percent said that they think the economy will get worse before it gets better.

Those surveyed don’t seem to think it’s going to get better soon, either. More than a quarter believe the overall economy will not improve for four years or more, while 62 percent said a significant change can be expected within two or three years.

Unemployment numbers seem to be what’s eating most Americans. While those surveyed report their own personal finances have improved since last year and that their local economy is better than it’s been, 85 percent rated local employment opportunities as only “fair” or “poor.” Major purchases are on hold, too, as 62 percent said it is not a good time to make a major household purchase.