Upper-Income Americans’ Economic Confidence Shaken

September 13, 2011 07:50

80% say economy getting worse – up from 66% in July – GALLUP



Upper-income Americans’ economic confidence was badly shaken in August, with 80% saying the economy is “getting worse,” up from 66% in July. This is the first month since the financial crisis of late 2008 and early 2009 that upper-income Americans are more pessimistic about the future direction of the U.S. economy than other Americans.

Normally, upper-income Americans tend to be more optimistic about the future of the economy than those with lower incomes. Additionally, the percentage of upper-income Americans expressing concerns about the future direction of the economy is the highest it has been since February 2009.

Middle- and lower-income Americans’ outlook also deteriorated in August, with 77% saying the economy is “getting worse.” This is up from 71% in July and its highest level since February 2009.

More Upper-Income Americans Rating the Economy “Poor”

Fifty-four percent of upper-income Americans rate current economic conditions “poor” in August, up from 42% in July. This is the highest percentage providing this rating since March 2009.


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