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Latino Daily News

Sunday March 20, 2011

POLL:  Overwhelming Majority of Americans Believe U.S. Economy Is In a Recession

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, held relatively steady on Sunday at 76.7. That’s down a point from a week ago, seven points from a month ago and down 16 from the highest mark of 2011.

Sixty-seven percent (67%) of Americans believe the U.S. economy is in a recession.

After rising steadily from the summer of 2010 to reach a two-year high in January, 2011, consumer confidence began to slip in February. So far in March, every single daily reading of the Consumer Index has been lower than the February average.

After rebounding four points yesterday, the Rasmussen Investor Index gained another point today. At 89.8, investor confidence is 16 points below the high-water mark for 2011. Still, 58% of investors say that their investment portfolio is worth more today than it was a year ago.

The housing market continues to struggle. Just 19% of homeowners believe the value of their home will increase over the next year. Thirty percent (30%) expect their home value to decline. Pessimism is growing about the longer-term outlook as well. Fewer than half of all homeowners believe their home value will improve over the next five years.

Sixty percent (60%) of Americans believe that recent events in Japan will have a negative impact on the U.S. economy.