Economic Survey Shows Americans Pessimistic About Economy

On the eve of another potentially bruising political battle over the nation’s debt, American sentiment dipped back into its post-crisis financial funk, according to the CNBC All-America Economic Survey.

The third quarter survey of 812 Americans across the country found 61 percent saying they are downbeat on the current state of the economy and pessimistic for the economic future, a 5-point increase from the prior quarter and the highest level in almost two years.

Smaller expected gains in Americans’ paycheck and housing values cast a pall on sentiment in the quarter and reversed a brief blip of optimism measured three months ago. The survey found that middle class attitudes registered some of the biggest declines. The percentage of white collar workers who believe the economy will improve in the next year declined 18 points compared to the second quarter, three times the decline for all adults. Only one in three college grads expect their wages to rise in the next year, down from one in two in the last quarter.

via CNBC

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