DB - 60% Americans Believe Economy Is In Recession Despite Steady Growth And Robust Job Market: Report | Benzinga
In the face of a strong job market and consistent economic growth, a majority of U.S. citizens are under the impression that the country is experiencing a recession, a recent survey by Bankrate has revealed.
What Happened: According to a report by The Hill on Dec. 6, 2023, the Bankrate survey found that nearly 60% of Americans believe the economy is in a slump. This sentiment cuts across generational and income lines, affecting around 65% of Generation X, 60% of Millennials, 58% of Baby Boomers, and 55% of Generation Z.
This perception of the economic downturn was prevalent among both lower and higher-income households, earning below $50,000 and above $100,000 respectively. Despite this pervasive sentiment, economic experts maintain a positive outlook on the U.S. economy, especially compared to last year when high inflation and increasing interest rates fueled recession forecasts.
Bankrate analyst, Sarah Foster, stated that “Americans seem to be evaluating the economy ...