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U.S. and UK Residents Show Pessimism About Economy

By Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.

In a recent survey, the Pew Research Center found that most of Americans foresee a gloomy future for the United States economy. The study, which was released last Thursday, shows the public mood about the current state of the economy and showed the highest dissatisfaction level in a year.

63% of the surveyed see a rise in national debt by 2050, while 54% think that the economy is going to be weaker within a decade. This data is backed by the Federal Reserve economic growth forecast, which was downgraded to 2.1% last week amid an uncertain outlook, a slowing down economy and a growing national debt level.

The White House, on the other hand, is optimistic and expects a 3.2% growth for this year, despite not been able to keep their promises of lowering the debt levels and closing the trade gap. Their forecasts are helped by a somewhat healthy economic situation, with low inflation and unemployment levels.

The British National Centre for Social Research also made a survey, this time from Brexiters. The survey found that about 80% of leave voters don't feel satisfied by the way the British government has handled the exit negotiations while 63% question Theresa May's deal with the EU.

This survey, which was made from people who voted leave in 2016, shows an increase in pessimism concerning the future economic outlook, as 25% of the respondents consider that the UK will be worse off after it leaves the European Union, up from 15% in 2017. However, 41 percent of leave voters think that Great Britain will be better off economically after it leaves the union.

The UK economy slowed down in 2018, mostly attributed to the uncertainty associated with the Brexit. Whether the British will leave with or without a deal is still not clear, after May could obtain deadline extension this last week in Brussels.

Sara Patterson
About Sara Patterson
Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.
 

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