Wall Street Journal/NBC News Poll Indicates Consumer Optimism Improving
A recent Wall Street Journal/NBC News Poll shows optimism among consumers, and points to the belief in an improved U.S. economy for 2013. Despite uncertainty regarding fiscal policy, tax rates, and global economic growth, 45 percent of those polled said they believe the economy will improve in the coming 12 months. The Lending Circle, which helps consumers and borrowers with their lending needs, examines the poll results.
San Francisco, CA (PRWEB) October 31, 2012
Though the coming U.S. elections continue to inject uncertainty into the minds of Americans, a recent poll by the Wall Street Journal/NBC News shows that Americans are beginning to believe in an improved U.S. economy.
The poll was conducted from October 17th to the 20th and asked registered voters about their views on the economy. While September saw just 42 percent believing the economy was improving, the October poll saw a 3 percent increase, with 45 percent of respondents saying they expect the economy in the U.S. to improve over the coming 12 months.
In an additional vote of confidence for the economy, only 9 percent of those polled said they believe the economy will become worse in the coming year, versus 18 percent who believed so last month. This is the lowest percentage of respondents expecting the economy to deteriorate since 1993, based on Wall Street Journal polls.
Although voter sentiment is moving in the right direction regarding views on the economy, there was an increase in uncertainty, with 12 percent of those polled saying they were unsure about the direction the economy would take over the next 12 months. This is in contrast with the 8 percent who held these uncertain views in September. The remainder of the respondents said they expect no change in the economy.
Based on poll data, voters are looking for a compromise between Republicans and Democrats to avoid the anticipated fiscal cliff that is looming at the end of the year. Many banks have not been lending to small businesses, who find themselves shut out of capital sources. The Lending Circle, a division of Sunovis Financial, finds solutions for borrowers today - from conventional loans, SBA loans, micro loans and those with alternative lenders.
This Wall Street Journal/NBC News poll confirms what consumer surveys of all sorts are finding, that sentiment about the economy in the U.S. is improving. This consumer confidence is occurring despite warnings of slow growth from economic forecasters.
Economic forecasters and a growing number of business executives have been blaming the softness in the economic recovery on the uncertainty regarding government spending, the direction of tax rates, and the strength of the global economy.
Possible reasons for the uptick in consumer confidence include the recent surge in the stock market which ended on the 19th, improvements in housing and real estate markets, and the reported decline in the unemployment rate to 7.8 percent.
Based on poll data, voters are looking for a compromise between Republicans and Democrats to avoid the anticipated fiscal cliff that is looming at the end of the year.
Three-quarters of registered voters said they favor "compromises to gain consensus on the budget deficit, even if it means Democrats would have to accept targeted spending cuts and Republicans would have to accept targeted tax increases." Stability and growth of business in the US is essential now.
The mission of Sunovis Financial and its division, The Lending Circle, is to help rebuild the US economy, one business and one loan at a time.
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