More Americans worse off financially

More Americans, 42%, say they are financially worse off now than they were a year ago, reversing the lower levels found over the past two years.

Just more than a third of Americans say their financial situation has improved from a year ago.

These results come from Gallup’s annual “Mood of the Nation” poll, conducted Jan. 5-8. Gallup has found that Americans’ economic confidence, self-reported consumer spending, and perceptions of job creation improved in 2013.

Despite Americans’ more positive views of the overall US economy in 2013, nearly two-thirds believe their personal financial situation deteriorated or was stable over the past year.

Though down from mid-2013, the percentage of Americans saying they are financially better off than a year ago is nearly in line with the historical average (38%), spanning 1976-2014.

On the other hand, the share of Americans saying they are financially worse off compared with a year ago is, by historical standards, high — eight percentage points above the average. The record high of 55% occurred in May and September 2008, the year (and, in the latter case, the month) of the global financial meltdown.

While many Americans say the past year was a financial dud, a majority (55%) predict that at this time next year they will be financially better off. Optimism about the future may still be the predominant feeling, but the overall positivity of the nation’s personal financial predictions appears to be easing, compared with the average during the past decade. Gallup

AHT/ARA

Source: Press TV