Survey: Majority of Americans Think Economy on Wrong Track

As many as half of Americans think the economy may be on the wrong track. A
Reuters/Ipsos survey shows a slight majority of respondents believe the cost of living, employment, and the national economy are going in the wrong direction. They also feel too much influence is being exerted on the economy by wealthy Americans.

Maybe the most telling statistic from the Reuters/Ipsos poll is 33 percent of those surveyed believe the employment picture in America is on the right track while 44 percent think it is headed the wrong way.

When it comes to American's cost of living, 20 percent say their situation is improving. That is in stark contrast to 64 percent who say it's getting worse.

The most recent economy report from Gallup shows a slightly better response from Americans. But Gallup states on its web site the picture is not all that positive. "Fewer Americans now see the economy in starkly positive or negative terms, with more gravitating toward a middle-ground assessment."

Specifically, the Gallup results show, "In February, 20% say conditions are “excellent” or “good,” down from 26% in January. At the same time, the share describing the economy as “poor” has fallen from 40% to 33%. Now, more Americans describe conditions as being “only fair,” at 45%, up from 33% in January."

The Commerce Department this week reported inflation dropping 0.1% since January. It also reported that without considering the volatile categories of energy and food, consumer prices dropped 0.3% to the lowest level since last June.

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