Bringing you live news and features since 2006 

Nearly two-thirds of Americans believe economy has yet to hit bottom


Nearly two-thirds of Americans (62 per cent) believe the economy has yet to hit bottom, a survey issued by Citi and conducted by Hart Research Associates shows.

This represents a three point decline from March, when 59 per cent said we have a long way to go, and a return to the level measured in September (63 per cent).

According to the survey, just one-third (33 per cent) believe the economy has hit bottom, even though Commerce Department data indicates the US economy resumed growing in 2009’s third quarter.

In addition, the data reveals that, as we pass the halfway point of 2010, Americans’ expectations for when the economy will stabilise for their households have slipped quite far into the future, with 62 per cent believing it will be at least two or three years, if not longer, and more than one quarter (28 per cent) believing it will be four or more years until the economy stabilises for their household.

At the same time, however, Americans’ views on current economic conditions, as well as their outlook on their own personal financial situations, are improving or holding steady.

The percentage of Americans who say their personal financial situation is better now than a year ago has improved slightly since March (17 per cent versus 15 per cent). Fifty-two per cent said their personal financial situations are about the same as they were a year ago.

"Clearly, the mood of Americans has been heavily influenced by the unemployment numbers here at home and the news of economic woes in Europe," says Jonathan Clements, director of financial education at Citi Personal Wealth Management. "And yet, if you dig deeper, consumers are actually feeling a bit better about their own finances and the local economic outlook. The big question is, could the gloomy news become a self-fulfilling prophesy, prompting consumers to restrain their spending, thus hurting the economic recovery?"

Latest News

EFAMA has published its latest Monthly Statistical Release for May 2024...
Solactive writes that it has expanded its collaboration with Kiwoom Asset Management by providing the underlying indices to the KIWOOM..
MSCI has announced the launch of MSCI Private Capital Indexes, writing that with growing investor interest in private markets, high..
Matteo Greco, Research Analyst at Fineqia International, writes that bitcoin (BTC) ended the week at approximately USD68,150, marking a 12.1..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by