CNBC Survey: Americans' Views About Economy Finally Improve

Thursday, 12 Jun 2014 09:50 AM

By Dan Weil

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Five years after the Great Recession officially ended, several measures of Americans' opinion about the economy have finally returned to levels that prevailed before the 2008 financial crisis, according to CNBC's All-America Economic Survey.

Only 33 percent of the 815 respondents view the state of the economy as poor, matching the December 2007 low and down 5 percentage points from March.

To be sure, just 18 percent of those polled see the economy as good or excellent, nearly unchanged from March and down 8 percentage points from the level before the recession started in December 2007.

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At the same time, 91 percent of the respondents think their home prices will stabilize or rise during the next year, the highest since March 2007.

As for investments, gold, which ranked as the top investment choice for the past two years, has slipped to third. Real estate is No. 1, followed by stocks.

When it comes to Obamacare, only 30 percent of Americans view it positively, almost unchanged from last September.

Meanwhile, the Conference Board’s consumer confidence index rose to 83 in May, its second-highest level since 2008.

"Rising home prices certainly are making households feel better. And higher net wealth with rising equity portfolios, those things are helping households feel healthier," Joe LaVorgna, chief U.S. economist at Deutsche Bank Securities, tells Bloomberg.

Also, "the labor market is better," he notes.

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