Exclusive Harris poll for the Guardian shows 55% believe economy is shrinking, in troubling sign for president’s re-election bid

Nearly three in five Americans wrongly believe the US is in an economic recession, and the majority blame the Biden administration, according to a Harris poll conducted exclusively for the Guardian. The survey found persistent pessimism about the economy as election day draws closer.

The poll highlighted many misconceptions people have about the economy, including:

  • 55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.

  • 49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.

  • 49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.

  • Pixlbabble@lemmy.world
    455·
    6 months ago

    By good economy you mean corporations making gang bucks while the people are being bled dry and putting shit on credit.

    • NielsBohron@lemmy.worldEnglish
      13·
      6 months ago

      making gang bucks

      I think you mean “like gangbusters,” but it’s totally possible “making gang bucks” is a term I just haven’t heard before.

      Cheers!

      • Pixlbabble@lemmy.world
        82·
        6 months ago

        Probably, I tend to make sayings and idioms slightly off while it still makes sense. I have a joke about myself where I say I ended up at the neighbors house again.