Exclusive Harris poll for the Guardian shows 55% believe economy is shrinking, in troubling sign for president’s re-election bid

Nearly three in five Americans wrongly believe the US is in an economic recession, and the majority blame the Biden administration, according to a Harris poll conducted exclusively for the Guardian. The survey found persistent pessimism about the economy as election day draws closer.

The poll highlighted many misconceptions people have about the economy, including:

  • 55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.

  • 49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.

  • 49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.

  • @Son_of_dad
    3•6 months ago

    You can’t argue with reality my friend. I’m my lifetime alone, costs have gone up to the point where it felt like they teased us with the dream of being able to live comfortably before it was taken away. You can’t tell me the economy improving is benefiting me when it’s NOT. it adds nothing to my paycheck, it doesn’t affect my industry. The only reason I’m not underwater is because I have a union.