Americans are bracing for a 2023 marked by worsening economic conditions, according to a new survey released Monday by Gallup. The annual Gallup poll, which ran from Jan. 2 to Jan. 22, found a record-high 48% plurality of U.S. adults now predict the stock market will fall in the first half of 2023; 18% expect that it will remain the same, while 31% say it will go up. The public’s outlook on other economic metrics — economic growth, the stock market, unemployment, interest rates and inflation — was largely negative.
The majority of Americans — 67 percent — think inflation will rise in the next six months, though the figure is down from a record 79 percent who said the same at the start of last year. The only metric that doesn’t garner a majority of Republicans holding negative views is unemployment, yet nearly half think it will rise in the coming months.
According to a Gallup poll published on Wednesday, 50% of Americans declared that their financial situation is worse than it was one year ago, making it the highest percentage since 2009.  Those with a household income of less than $40,000 reported that they were worse off at a rate of 61%, while 49% and 43% of middle- and high-income households respectively said the same.
In addition, a separate survey by the High Point Survey Research Center found that 53% of respondents said inflation over the past few months has been worse than they expected, compared to 25% who said it was about what they expected, and 17% who claim it wasn’t as bad as they expected. The HPU Poll has a margin of error of 3.3%.
As the public becomes increasingly pessimistic about the economy in 2023, it remains to be seen whether their predictions will come to pass or if the economy will surprise them with a stronger recovery.
0. “Americans Pessimistic About Inflation, Stock Market” Gallup Poll, 6 Feb. 2023, https://news.gallup.com/poll/469322/americans-pessimistic-inflation-stock-market.aspx
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