Americans remain negative on the economy despite positive economic indicators like low unemployment and inflation. Reasons include data misinterpretation, lingering anger over past events, and influence from external sources like social media.
Consumer sentiment is weak, but spending remains strong. Americans feel better about personal finances than the overall economy, and state/local economies more than the national one. Economic perceptions have become highly partisan.
Attempts to explain consumer pessimism suggest three main stories: misleading economic data, persistent anger over past events, and influence from external sources like social media and TV narratives.
Americans' economic sentiment turned highly partisan after President Joe Biden's election, even before inflation surged. Despite this, consumer spending has stayed strong in line with pre-pandemic levels.
#economic-sentiment #consumer-spending #partisan-economics #inflation #working-americans #social-media-influence
Collection
[
|
...
]