Polls vs. Reality
In a Bloomberg/Los Angeles Times survey conducted Oct. 19-22, two-thirds of the respondents said a recession is “likely” next year. A recent poll by CNN and Opinion Research Corp. found that nearly half of Americans believe the country already is in a recession.
SECRETARY GUTIERREZ: Thank you. Good morning. Thanks for coming, and I’m here with my colleague, Dr. Ed Lazear, Chairman of the Council of Economic Advisers.
Today, the Department of Commerce announced that third quarter GDP growth was a robust 3.9 percent, making this the 24th consecutive quarter of economic growth. This growth is coupled with a record-breaking 49 consecutive months of job growth and historically low unemployment. The President’s policies have helped foster broad-based economic growth.
This third quarter was fueled by consumer spending, business investment, rising net exports and non-residential construction. Housing remains a concern, but its impact is being offset by growth in other sectors of the economy.
How much this good news is reported by the media, as often as, say, the housing market problems, affects these polls. This is all a matter of perception. Perception is important in the economy, but this points out, not that the economy is bad, but that news of its strength isn’t getting reported.
Hat tip: Power Line.
[tags]economy,polls,CNN,Bloomberg,Los Angeles Times,media[/tags]
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