Poll Highlights Gap Between Economic Data and Consumer Attitudes

Poll Highlights Gap Between Economic Data and Consumer Attitudes

Poll Highlights Gap , Between Economic Data and , Consumer Attitudes .

CNBC reports that over half of Americans falsely believe the United States is in the middle of an economic recession.

A recession is officially defined as an extended period of economic decline, usually after gross domestic product (GDP) declines for two or more consecutive quarters.

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However, for the past several years, GDP has actually been increasing.

Despite this, a recent Guardian/Harris poll found that 56% of respondents believe the U.S. is currently experiencing a recession.

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Despite this, a recent Guardian/Harris poll found that 56% of respondents believe the U.S. is currently experiencing a recession.

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At the same time, 58% of those polled believe that the Biden administration is responsible for the perceived economic downturn.

In the first quarter of 2024, the GDP grew by 1.6%.

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CNBC reports that the recent poll highlights the ongoing gap between economic feelings and economic data.

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Consumer attitudes have been lagging amid persistent inflation and a consequently high cost of daily living.

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The poll comes just six months ahead of the November presidential election which will pit President Joe Biden against former president Donald Trump.

The poll comes just six months ahead of the November presidential election which will pit President Joe Biden against former president Donald Trump.

The Biden administration has been trying to shift the mood of voters and recognize economic gains the U.S. has made in the wake of the COVID-19 pandemic.

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The Biden administration has been trying to shift the mood of voters and recognize economic gains the U.S. has made in the wake of the COVID-19 pandemic.