Rasmussen: Only 33% of Americans Feel Good About Their Finances

Monday, 02 Jul 2012 11:57 AM

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Only about one-third of Americans feel their finances are in good shape, a poll finds.

Some 33 percent of consumers in a Rasmussen Reports poll survey their own personal finances as good or excellent.

The figure is down from 37 percent four years ago and from 41 percent on July 1, 2008.

Editor's Note: How You Lost $85,000 During the Last Decade. See the Numbers.

On the day President Obama took office, Rasmussen Reports adds, 35 percent rated their finances as good or excellent.

Among investors, 49 percent rate their personal finances as good or excellent, Rasmussen Reports adds.

The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, rose two points on Sunday to 85.3, up five points from a week ago but down nine points from a month ago and four points from three months ago.

Consumer demand drives roughly 70 percent of the U.S. economy, and other indicators suggest more and more Americans are growing increasingly concerned with the country's fate.

The Thomson Reuters/University of Michigan's final reading on its overall index on consumer sentiment fell to 73.2 in June from 79.3 in May.

The reading was the lowest level since December and fell short of economists' expectations for the index to hold at the same level as June's preliminary reading of 74.1, Reuters adds.

The indicator echoes the Conference Board's Consumer Confidence Index, which fell to 62.0 in June from 64.4 in May, the lowest since January.

"Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook. Income expectations, which had improved last month, declined in June. If this trend continues, spending may be restrained in the short-term," Lynn Franco, Director of Economic Indicators at The Conference Board, says in a statement, adding other Conference Board metrics depict little change in consumer moods.

"The improvement in the Present Situation Index, coupled with a moderate softening in consumer expectations, suggests there will be little change in the pace of economic activity in the near-term."

Editor's Note: How You Lost $85,000 During the Last Decade. See the Numbers.




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