Rasmussen: 68% Believe US Economy in Recession

Saturday, 19 Mar 2011 02:07 PM

 

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The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, slipped another half point Saturday to 77.0. That’s up two points from a week ago, but down six from a month ago and down 16 from the highest mark of 2011.

Sixty-eight percent (68%) of Americans believe the U.S. economy is in a recession.

After rising steadily from the summer of 2010 to reach a two-year high in January, 2011, consumer confidence began to slip in February. So far in March, every single daily reading of the Consumer Index has been lower than the February average.

After falling five points on Friday, the Rasmussen Investor Index gained four points today. At 88.6, investor confidence is 17 points below the high-water mark for 2011. Still, 58% of investors say that their investment portfolio is worth more today than it was a year ago.

The housing market continues to struggle. Just 19% of homeowners believe the value of their home will increase over the next year. Thirty percent (30%) expect their home value to decline. Pessimism is growing about the longer-term outlook as well. Fewer than half of all homeowners believe their home value will improve over the next five years.

Sixty percent (60%) of Americans believe that recent events in Japan will have a negative impact on the U.S. economy.

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. Detailed supplemental information is available for Platinum Members. Historical data for the Consumer and Investor indexes as well as attitudes about the economy and personal finances are also available to Platinum Members.

The Rasmussen Consumer Index reached its highest level ever at 127.0 on January 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 January 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 77.0, overall levels of economic confidence are significantly lower today than they were in the aftermath of the 9-11 terrorist attacks

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