Tags: CNBC | Poll | Wealthy | Gloomy | View | Economy

CNBC Poll: Wealthy Now Have Gloomy View of Economy

Wednesday, 29 Jun 2011 12:49 PM

Cash-strapped Americans have long viewed the economy with pessimism in wake of the Great Recession, and now the wealthy are joining their ranks, according to a CNBC poll.

The CNBC All-America Economic Survey of 800 Americans finds that 63 percent of the nation is pessimistic over the economy, with just 6 percent optimistic.

Wealthier Americans — those with incomes greater than $75,000 or more than $50,000 invested in the stock market — are now in line or even more downbeat than the nation as a whole, according to the June survey.

"In fact, just 26 percent of Americans with incomes above $75,000 believe the economy will get better in the next year, four points below the national average," CNBC reports.

"In December, it was five points above. For the first time in the survey’s five-year history less than half of those with $50,000 or more in the stocks investors think it’s even a good time to invest in the market."

The survey did find a silver lining, albeit a small one: the percentage of those who believe the economy will get worse dropped to 30 percent in June from 37 percent in March.

Confidence among U.S. consumers is plunging thanks to persistently high unemployment rates

The Conference Board’s consumer confidence index in June dropped to 58.5 from a revised 61.7 reading in May.

"Americans still feel like they're in a recession," says C. Britt Beemer, chairman of America's Research Group, according to the Associated Press.

"They feel like they're driving in a car and getting hit by all sides."

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Cash-strapped Americans have long viewed the economy with pessimism in wake of the Great Recession, and now the wealthy are joining their ranks, according to a CNBC poll. The CNBC All-America Economic Survey of 800 Americans finds that 63 percent of the nation is...
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2011-49-29
Wednesday, 29 Jun 2011 12:49 PM
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