Nearly 3 in 5 Americans Incorrectly Believe U.S. in Economic Recession: Survey
Wednesday, 22 May 2024, 17:08
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.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.