Nearly 3 in 5 Americans Incorrectly Believe U.S. in Economic Recession: Survey

Survey Reveals Misconceptions

A recent survey conducted by Harris Poll for The Guardian revealed that nearly 3 in 5 Americans believe the U.S. is currently in an economic recession, contrary to expert analyses.

Understanding Recession

• A recession
• is defined as a period of negative economic growth for two consecutive quarters or more,
• as per the National Bureau of Economic Research (NBER).

The NBER declared the start of the COVID-19 pandemic as the most recent recession period, with the U.S. economy not currently in recession.

Misguided Perceptions on Economy

• Americans' perceptions
• indicate beliefs that the economy is shrinking despite GDP growth,
• and that unemployment rates are misconceived as being at a 50-year high.

President Biden has been largely blamed for the economic conditions, with voters expressing concerns over inflation and economic management.