Half of Americans say their personal financial situation is worse than a year ago Gallup poll on Wednesday—the figure being the highest since the Great Recession in 2008 and 2009.
But 35% of Americans said they are in better shape now than they were a year ago.
Gallup explains The percentage of respondents who say they are “better off” during rough economic times is lower this year than it was in the late 1970s and early 1980s, the early 1990s, and 2008 2012 as an example.
During those periods, more respondents said their finances were “the same” as last year — only 14% of respondents answered the same this year.
61% of low-income Americans told Gallup that their financial situation had worsened in the past year.
60% of Americans predict they will be better off at this time next year.
Inflation hit a 40-year high in 2022, before cooling off in December, and most experts believe the US will enter a recession within 18 months of next year.
Of respondents who said their personal finances were bad, 61% were Republicans and 37% were Democrats. While 70% of Democrats and 60% of independents believe they will be better off this time next year, only 49% of Republicans said the same.
World economy 'dangerously' close to recession in 2023, World Bank warns (Forbes)
Why is US inflation slowing down now? (Forbes)
Survey: 59% of Americans still plan to spend money on Valentine's Day despite inflation (Forbes)
Is inflation higher than in previous years? Breaking down inflation rates by year (Forbes)
Credit: www.forbes.com /