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Americans Remain Downbeat on Economy - 8/29/16

Despite an official unemployment rate below five percent, millions of jobs created since the previous recession, and the recent attainment of record stock prices, Americans remain downbeat regarding their economy. 

According to a survey of people in sixteen nations recently conducted by the Pew Research center, only forty four percent of Americans rate their economy as good, though as reported by the New York Times, that proportion has risen from eighteen percent in two thousand and eleven. 

Politics helps inform these views, with only thirty seven percent of conservatives giving the economy high marks versus forty five percent of moderates and fifty five percent of liberals.  In China, economic growth has been decelerating for the past five years, but eight seven percent of Chinese surveyed describe their economy as good.  So do eighty percent of Indians and fifty seven percent of Australians. 

People in Japan and in many European nations regard their economies as poor, with no one being quite as despairing as the Greeks.  The Greek economy has shrunk twenty six percent since two thousand and seven and unemployment there is twenty four percent.   

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.