Americans in Poll Doubt Economy Rebound – Bloomberg 09-24-13

Salient to Investors:

Bloomberg poll:

  • 27 percent say economic growth will increase, down from 39 percent 3 months ago, while 44 percent expect it to stay the same and 28 percent see it weakening.
  • 25 percent said the US is on the right track, the lowest since September 2011, while 68 percent say the country is on the wrong track.
  • Over 80 percent do not plan to borrow to make ends meet.
  • 36 percent expect employment to strengthen versus 42 percent 3 months ago.
  • 42 percent see the housing market improving versus 51 percent 3 months ago.
  • 56 percent feel they are moving closer to achieving career and financial goals, versus 50 percent 3 months ago. 35 percent feel they are losing ground on attaining their goals.
  • 38 percent approve of the job Obama is doing to make people feel more economically secure versus 42 percent 3 months ago, and 45 percent 6 months ago. 53 percent disapprove of his performance.
  • 42 percent say they are unable to save what they need for retirement. 40 percent say they cannot put more money aside for costly items such as health care and education.
  • Almost 25 percent of those making under $50,000 a year expect to borrow money in the next year to make ends meet, more than twice the percentage of those earning between $50,000 and $99,000 who plan on such borrowings.

The median economist expects growth of 1.60 percent in 2013 and 2.65 percent in 2014, and reach a 3 percent rate by Q3 2014.

Read the full article at  http://www.bloomberg.com/news/2013-09-25/americans-in-poll-doubt-economy-rebound-in-defiance-of-forecasts.html

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