Although the economy is growing, consumers remain somewhat pessimistic.
The U.S. economy has remained remarkably strong even amid persistent inflation and high interest rates.
And yet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent survey of 2,000 adults by Affirm in June.
Citing higher costs and difficulty making ends meet, most respondents said they think a recession started roughly 15 months ago, in March 2023, and could last until July 2025, Affirm found.
“Right now we have a ‘Goldilocks’ economy”, said Gene Goldman, chief investment officer at Cetera Financial Group in El Segundo, California.
The country’s economy has continued to expand since the Covid-19 pandemic, sidestepping earlier recessionary forecasts.
Officially, the National Bureau of Economic Research defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.
