Economy Getting Worse, Americans Say

Despite the stock market rebounding significantly from its hard crash at the beginning of March, a new poll shows many Americans still believe the economy is going to continue getting worse for the foreseeable future.

In a new online poll from YouGov, nearly 60 percent of U.S. adults who responded said they felt the economy was continuing to get worse. Just under 18 percent said the economy was getting better, while 23 percent said they were either unsure or it was staying the same.

This survey parallels with many other recent surveys showing Americans’ confidence in the economy at record lows. In an Ipsos survey, 50 percent of Americans surveyed said the economy won’t recover quickly whether businesses reopen soon or not. In an index from the University of Michigan, consumer confidence in the country is rising from its record trough but is still very low – even as businesses across the country reopen.

As the U.S. attempts to reopen its economy, Americans are still feeling a general uneasiness surrounding the possibility of a second wave as they see other countries having to re-implement lockdowns after reopening. China recently imposed another lockdown in Beijing to help stop the spread of a potential second wave. Cases in India continue to spike despite lockdowns, while Europe is bracing for what many believe is an inevitable second wave of COVID-19 in the fall.