Tags: Americans | view | economy | weak

Poll: Almost 70 Percent of Americans View Economy as Weak

Friday, 27 Dec 2013 11:54 AM

By Dan Weil

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A number of strong economic indicators in recent weeks have made experts more enthusiastic about economic growth for 2014.

But the man on the street apparently doesn't share that enthusiasm. A new CNN/ORC poll shows that almost 70 percent rate the economy as generally in poor shape, while only 32 percent see it as strong.

The government reported last week that the economy grew 4.1 percent in the third quarter, the fastest pace in almost two years. Consumer spending rose 0.5 percent in November, the strongest clip since June. The unemployment rate slid to a five-year low of 7 percent last month.

Editor’s Note: 5 Reasons Stocks Will Collapse . . .

But two-thirds of Americans say most of the economic news they have encountered recently was bad, and slightly more than half believe the economy will stay in bad shape a year from now, according to the poll.

It showed that 36 percent of Americans are curbing their spending on food or medicine, up from 31 percent in late 2008 during the financial crisis.

More people in rural areas than in cities see the economy as troubled.

The poll surveyed 1,035 adults Dec. 16-19.

Meanwhile, many economists express optimism about the economy.

"Jobs are growing, confidence is growing, households and asset values are climbing," Paul Edelstein, director of financial economics at IHS Global Insight, told Bloomberg. "There appears to be some sort of gathering momentum in the economy."

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