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Faith in U.S. recovery looks weak

July 28, 2010 at 4:46 PM   |   Comments

NEW YORK, July 28 (UPI) -- More U.S. consumers think the economic recovery will sour further before it solidifies than consumers who have an optimistic outlook, a recent poll found.

In a survey conducted by Angus Reid Public Opinion, of 1,013 respondents, 86 percent indicated they believed the economy was in poor or very poor shape -- respectively, 57 percent and 29 percent.

Sixty-one percent indicated their own financial situation was in poor shape, while 20 percent indicated their personal finances were in very poor shape, the survey found.

More consumers indicated the economy was getting worse than those indicting it was getting better -- 26 percent, compared with 18 percent.

Despite the pessimism, 34 percent of the respondents indicated Democrats were better prepared to manage the economy than Republicans, while 29 percent indicated a preference for Republican management.

President Barack Obama received the highest score, 46 percent, when consumers were asked to rate their trust in economic management, followed by Federal Reserve Chairman Ben Bernanke, 31 percent, the Republican Party, 30 percent, and House Speaker Nancy Pelosi, 28 percent.

The poll was conducted July 22-23. The results include a margin of error of 3.1 percentage points, Angus Reid said.

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