Rasmussen: 67% Believe US in a Recession

Friday, 10 Jun 2011 06:22 PM

 

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The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, regained two points on Friday. At 76.5, the Consumer Index is down nine points from a week ago and down seven from a month ago. It is, however, up a point from three months ago.

Overall, confidence in the economy bounced upward following the news about Osama bin Laden just over a month ago. That bounce ended with last week’s disappointing jobs report and confidence has settled back down to March and April levels. Two-thirds of Americans (67 percent) believe that the United States is still in a recession.

The Rasmussen Investor Index gained six points on Friday to 90.0 but is still down five points from a week ago. Investor confidence is down six points from a month ago and unchanged from three months ago. Fifty-five percent (55 percent) say their investment portfolio is worth more than it was a year ago.

Other recent data suggests that just 31 percent believe the economy will be stronger in a year. That’s down four points from a month ago and the lowest level of optimism measured since President Barack Obama took office. Forty-four percent (44 percent) believe it’s possible for anyone to work their way out of poverty, down from 56 percent two years ago. Americans are evenly divided as to whether anyone who is willing to work can find a job.

The Rasmussen Consumer Index and Investor Indexes are derived from nightly telephone surveys of 500 adults and reported on a three-day rolling average basis. The baseline for the Index was established at 100.0 in October 2001. Readings above 100.0 indicate that confidence is higher than in the baseline month.

The Rasmussen Consumer Index reached its highest level ever at 127.0 on Jan. 6, 2004. The all-time low was reached on March 10, 2009, at 54.7.

The Rasmussen Investor Index reached its highest level ever at 150.9 on Jan. 7, 2004. The lowest level ever measured was 52.5 on March 9, 2009.

The baseline for the Rasmussen Consumer Index was established at 100.0 in October 2001. At 76.5, overall levels of economic confidence are significantly lower today than they were in the aftermath of the 9/11 terrorist attack.

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