Economic pessimism highest in some of world's top economies: Poll

2023-01-16 21:45:25
Economic pessimism highest in some of world's top economies: Poll

A new global survey has found that economic pessimism was at its highest in some of the world's top economies such as the United States, Britain, Germany and Japan.

The Edelman Trust Barometer, which has polled the attitudes of thousands of people for over two decades, identified growing levels of distrust in institutions among low-income households.

Globally, only 40% agreed with the statement "my family and I will be better off in five years" compared to 50% a year before, with advanced economies most downbeat: the United States (36%), Britain (23%), Germany (15%) and Japan (9%).

In some, that hinted at outright polarisation, with high levels of respondents agreeing with the statement "I see deep divisions, and I don’t think we’ll ever get past them" in countries as different as Argentina, the United States, South Africa, Spain, Sweden and Colombia.

The Survey confirmed how societies have been divided by the impacts of the pandemic and inflation. Higher-income households still broadly trust institutions such as government, business, media and NGOs. But alienation is rife among low-income groups.

"This has really shown the mass class divide again," said Richard Edelman, whose Edelman communications group published the survey of over 32,000 respondents in 28 countries interviewed from Nov. 1 to Nov. 28 of last year.

Reuters

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