Many recent signs about the economy point to a resurrection of consumer and business optimism. Recent Fed data shows that borrowing among consumers has risen. Consumer confidence data from the University of Michigan and Conference board has been good. Experts expect that the February unemployment levels will show more improvement, on the back of the last several months, when they are announced later this week.
Gallup data has routinely shown deep pessimism about the economy over the last two years. Now its information shows that those polled have begun to see a better road ahead.
In a new study, Gallup reports that
Forty percent of Americans believe the U.S. economy is growing, up from 27% last year and 3% in 2008. Even so, nearly half of Americans, 46%, still say the economy is in either a recession or a depression.
That 46% is still bound to be some drag on overall economic improvement, so it may be the most closely watched measure in future Gallup polls.
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