US Economy 2022: Are Americans Optimistic Or Pessimistic About Growth?

Americans continue to feel pessimistic about the economy, according to recent polling.

On Saturday, Yahoo and Maru Public Opinion released a poll that showed 62% of respondents feel the U.S. is already in a period of contraction, or recession. Another 19% of respondents feel that the country is not in a recession but that one is on the way.

Over half of those surveyed (53%) also say they have set stricter priorities and reduced their spending within the last month. Another 72% of respondents believe the economy is moving in the wrong direction.

The Wall Street Journal and The National Opinion Research Center (NORC) at the University Of Chicago conducted another poll with similar results.

According to that poll, 83% of respondents said the economy was "poor" or "not so good." Another 35% expressed a lack of satisfaction with their financial situation.

This level of dissatisfaction recorded by NORC is the highest since polling for these questions began in 1972 with the "General Social Survey."

Forty-six percent said they do not have a good chance of improving their standards of living. Meanwhile, 27% said they had a good chance. Thirty-eight percent said their financial situation got worse over the past few years.

A poll released by ABC News and Ipsos shows that the economy will be an important factor in the midterm elections. Sixty-six percent said the economy will be extremely important in determining how they vote. Another 62% of people said the same about inflation.

In terms of politics, the pessimism found by the Journal and NORC also highlights the discontent over U.S. political division (86%). Over half of respondents expect those political divisions to get worse within the next five years. Only 13% said that despite political division, people could come together to solve the country's biggest problems.

The ABC/Ipsos poll also highlighted national support for gun rights, while further polls from Gallup highlight high levels of support for legalized abortion. Both issues should be heavy on voters' minds ahead of the November elections.