Americans Remain Pessimistic About Their Financial Situations

A recent article featured on discusses the responses of Americans questioned in a Thomas Reuters/University of Michigan consumer survey. These responses suggest that, while Americans are becoming increasingly optimistic about the US economy at large, this optimism has not translated to their own financial situations. The figure below charts the responses to the questions from 1995 to 2010 and the current findings.

Among the more striking figures featured in this is that 53% of Americans feel that prices will rise more than their income and that they will be unable to keep up with inflation. However, according to this article, this figure is due more to worries about income rather than actual inflation as most expect prices to rise by only 4% or less. Another figure that suggests Americans are currently exceptionally pessimistic about their financial futures is that only 10% expect their income to rise by over 5%, as this is the lowest percentage recorded since 1978.
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