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U.S. markets recover from steep losses
TORONTO, Jan. 7 (UPI) -- The majority of Canadians foresee economic doom and gloom for 2009, yet many anticipate personal economic growth, a poll released in Toronto Wednesday said.
The poll of 2,670 people conducted Dec. 11-15 by Pollara Strategic Insights for the Economic Club of Canada found 91 percent of Canadians believe Canada is in a recession, up from 22 percent last January.
As for Canada's economy, 57 percent said it will worsen over the next 12 months, compared to 20 percent who think it will improve. Asked about the U.S. economy, 68 percent believe it will worsen over the next year, compared to 15 percent who think it will improve.
At the same time, with respect to household income versus the cost of living, 8 percent of Canadians expect their income will outpace the cost of living in 2009, 41 percent believe they will keep pace in 2009 (up 4 percent) and 48 percent think they will fall behind in 2009 (down 2 percent).
"There seems to be a perplexing disconnect in current public opinion," said Pollara Chairman Michael Marzolini. "But don't for a minute think that they are laid-back about the situation -- they are truly alarmed for the country as a whole -- they just don't think it will happen to them."
The poll's margin of error is 2 percent, the release said.
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