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Economic Pessimism Highest in 17 Years
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| Contributor | Brandonius Maximus |
| Last Edited | Brandonius Maximus Nov 21, 2007 08:17pm |
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| Category | News |
| News Date | Thursday, November 22, 2007 02:00:00 AM UTC0:0 |
| Description | Pessimism about the economy has jumped to its highest level since November 1990, according to the Washington Post-ABC News Consumer Comfort Index.
Sixty-eight percent of Americans say the economy is getting worse, a 13-percentage-point increase since October, and nearly 30 points above the long-term average for the question.
In the same survey, two-thirds say the economy is "not so good" or "poor" while the overall Consumer Comfort Index (CCI) stands at -19, nearly matching its low for 2007. Both numbers have stagnated at about the same level since late-August.
A widespread perception that a recession is looming could be behind the gloom and doom outlook. A Post-ABC survey released earlier this month found that 69 percent said a recession was very or somewhat likely in the next year, and 14 percent cited the economy and jobs as their top concern for the upcoming presidential contest. |
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