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Harris: Attitudes on the economy drift downward

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Harris: Attitudes on the economy drift downward

Generations have different attitudes on how the economy and their household's financial condition will be.

The Dow Jones is flirting with a new magical number, 17,000 and there has been job growth for over 50 months in a row according to the White House. But according to a recent poll by Harris, Americans are still not all that confident about the state of the American economy. Just one-third (32%) of U.S. adults give President Obama positive ratings for his handling of the economy while two-thirds (68%) give him negative ratings. Last month, over one-third (35%) gave the President positive ratings while almost two-thirds (65%) gave him negative marks on the economy.

"Just one-third (32%) of U.S. adults give President Obama positive ratings for his handling of the economy while two-thirds (68%) give him negative ratings."Looking at the overall economy, over one in five Americans (22%) expect the economy to improve in the coming year while half (51%) expect that it will remain the same and one-quarter (26%) expect it to get worse. In May, just over one-quarter each expected it to improve (26%) and get worse (27%) while almost half (48%) said it would remain the same. Taking it a little closer to home, almost one-quarter of Americans expect, in the next six months, that their household's financial condition will be better (23%) and be worse (23%) while over half (54%) say it will remain the same. This is almost unchanged from last month when one-quarter (24%) said their household's financial condition would get better, less than one-quarter (23%) said it would get worse and about half (52%) said it would remain the same.

Generational differences

When it comes to economic conditions and attitudes, the stage of life one is in can have an impact on how one thinks about the economy. First, looking at how President Obama is handling the economy, Baby Boomers are his biggest "fans" as almost two in five (37%) give him positive ratings, followed by one-third (32%) of Matures, with less than three in ten Millennials (28%) and Gen Xers (29%) saying the same.

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