Aug 18, 2023 - Economy

Majority of Americans say the economy's bad, but their own finances are good: poll

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Illustration: Eniola Odetunde/Axios

A majority of Americans think the economy is in bad shape, but at the same time say their own finances are good, finds a new poll out from Quinnipiac University this week.

Why it matters: Since 2020, people's perceptions of the economy haven't quite lined up with, well, how the economy is doing. This latest poll offers a new way of looking at the phenomenon.

By the numbers: In the telephone survey of 1,818 adults Aug. 10-14, 71% of Americans described the economy as either not so good or poor. And 51% said it's getting worse.

  • But 60% said their financial situation is good or excellent.

What they're saying: "Can you be generally happy with your personal financial position and still think the economy is going in the tank? For a broad section of Americans, apparently so," Quinnipiac University polling analyst Tim Malloy said in a press release.

Zoom out: There's evidence from other surveys that Americans' view of the overall economy is entwined with partisanship — especially outside of a recession.

  • But your view of your own finances might be a bit less clouded by political goggles — especially if a survey makes the distinction between the big picture and your own pocketbook.

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