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Poll: Confidence in economy dips« Thread Started on May 11,

Daily newsbrief journal for May 2006, also see for a global 100-page perpetual brief and follow twitter @usdemocrats

Poll: Confidence in economy dips« Thread Started on May 11,

Postby admin » Fri Jan 27, 2012 8:33 am

Poll: Confidence in economy dips« Thread Started on May 11, 2006, 12:32am » --------------------------------------------------------------------------------Poll: Confidence in economy dipsMore than four out of five concerned about inflationThursday, May 11, 2006 Posted: 0005 GMT (0805 HKT) read source: ... WASHINGTON (CNN) -- Despite a recent rally bringing near-record highs in the stock market, Americans' confidence in the economy has dropped slightly since March, a new poll found Wednesday.A CNN poll conducted by Opinion Research Corp. found that 52 percent consider the economy "good," while 47 percent call it "poor." But the results show that even those who consider the economy strong have concerns. More than four out of five -- 82 percent -- said they are at least somewhat concerned about inflation, with 45 percent describing themselves as "very concerned."Pollsters quizzed 1,021 people from Friday through Sunday. The poll was taken before the Federal Reserve raised its short-term interest rate target another quarter of a percentage point Wednesday, saying "some further policy firming may yet be needed to address inflation risks."Those polled also expressed concerns about rising interest rates, with 39 percent saying they are very worried that borrowing costs will go up. But they are less worried about the stock market, with 22 percent telling pollsters they are very concerned about another stock skid. Ten percent said the economy was in "very good" shape. Another 42 percent considered it "somewhat good," while 26 percent said "somewhat poor" and 21 percent called it "very poor."The question about the overall state of the economy had a sampling error of plus or minus 4.5 percentage points; the margin for the other questions was 3 percentage points.In the poll, more respondents -- 47 percent -- gave the economy poor marks than they did in March, when 41 percent said they considered the economy somewhat or very poor.In addition to the 45 percent saying they are very concerned about inflation, another 37 percent described themselves as "somewhat concerned." Inflation is not a concern for 17 percent of those polled.The Fed has been raising rates in a bid to keep inflation at bay. But there is a growing feeling among some economists and investors that the Fed risks hurting economic growth if it keeps boosting rates.The Fed said in its statement Wednesday that "economic growth has been quite strong so far this year" but that growth "was likely to moderate to a more sustainable pace."In addition to the 39 percent that are "very concerned" about interest rates going up, another 38 percent described themselves as "somewhat concerned." Twenty-one percent said they are not concerned.The public's attitude toward inflation and interest rates mirrors surveys taken in 1994, when Republicans took control of Congress. In a March poll, Democrats held a strong lead over the GOP, 53-38 percent, when respondents were asked which party would better manage the economy. (Full story)In another poll released Monday, 65 percent of those surveyed said rising gas prices had caused hardship for themselves or their families. On a separate question, 21 percent said the price increase had caused enough difficulty to undercut their living standards.The federal Energy Information Administration said Monday that U.S. average gas prices per gallon had dropped one penny from the week before, but were still 72 cents higher than a year earlier.
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