Americans Remain Optimistic Despite Economic Woes

A new Gallup poll released Wednesday found that half of Americans have reported their financial situation is worse than it was a year ago, the highest amount since the Great Recession of 2008 and 2009.^[0] Despite this, Americans remain optimistic about the coming year, with 60% expecting to be better off financially and 28% expecting to be worse off.^[1]

Inflation has been a major concern for North Carolinians, according to a High Point University poll, with more than half of respondents saying it is worse than expected. They also reported higher prices for eggs (74%), meat (63%) and gas (59%) compared to last year.^[2]

In the Gallup poll, Republicans have been more pessimistic than Democrats, with 90% of Republicans describing the economy as “poor” compared to 59% of Democrats.^[3] A record 48% of Americans predict the stock market will decline in the first half of 2023, while 18% expect it to remain the same and 31% say it will go up.^[4]

The public’s outlook for economic growth and the stock market is the most pessimistic in Gallup’s periodic trend, and while they are optimistic about their personal financial situation, 87% of North Carolinians said they have changed their spending due to inflation concerns.^[5] Most (64%) also said they had not canceled any health care appointments because of cost, and 56% said they had not delayed health care services out of fear of high prices.^[2]

0. “Half Of Americans Say Finances ‘Worse,’ Poll Finds” Forbes, 8 Feb. 2023, https://www.forbes.com/sites/anafaguy/2023/02/08/half-of-americans-say-finances-worse-poll-finds

1. “Americans are feeling the worst about their money since the Great Recession” Fortune, 8 Feb. 2023, https://fortune.com/2023/02/08/americans-feeling-financially-worse-since-great-recession/

2. “HPU Poll: Majority in North Carolina Say Inflation Has Been Worse Than Expected” High Point University, 27 Jan. 2023, https://www.highpoint.edu/blog/2023/01/hpu-poll-majority-in-north-carolina-say-inflation-has-been-worse-than-expected

3. “Americans Pessimistic About Inflation, Stock Market” Gallup Poll, 6 Feb. 2023, https://news.gallup.com/poll/469322/americans-pessimistic-inflation-stock-market.aspx

4. “A Record Share of Americans Say the Stock Market Is Primed to Fall: Gallup” Yahoo Money, 6 Feb. 2023, https://money.yahoo.com/record-share-americans-stock-market-175512788.html

5. “Poll: Inflation worse than expected in North Carolina” Washington Examiner, 31 Jan. 2023, https://www.washingtonexaminer.com/poll-inflation-worse-than-expected-in-north-carolina