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Portfolio > Economy & Markets > Economic Trends

Economic recovery remains to be seen

By staff Writer

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The majority of Americans still believe economic recovery is more than two years away, reveals a new Gallup poll.

According to the results, 67 percent believe it will be at least two years before the economy shows signs of a recovery. 46 percent believe it will be even longer and speculate it will take at least three years. The average response puts the predicted recovery date somewhere around 2014.

Annual household income also appears to impact consumers’ views of economic recovery. Gallup reported that households with an annual income of $90,000 or more appeared to be more optimistic about the date of recovery. Households with lower incomes seem to parallel the expectation of a later date:

? 47 percent of households making $24,000 or less predict economic recovery in three or more years. For those in households making $90,000 or more annually, that number is decreased to 40 percent.

? When asked if they expected the economy to recover in less than a year, 38 percent of those in households making more than $90,000 annually agreed. Only 25 percent of those in households making $24,000 or less agreed with the same statement.

Gallup responded to the findings of the poll with a modest attitude towards stability: “The American public seems braced for a long road to economic recovery.”

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