Why you should never pay attention to polls on economy

GDP.jpgNo offense, but respondents often haven't the first clue of what they're talking about. Case in point: A majority of those surveyed by McClatchy-Marist believe that the nation is still in a recession. At least the number - 54 percent - is down from the 63 percent who thought the downturn was still going on in March. Not surprisingly, those earning under $50,000 were the most likely pessimists. Fact is, the U.S. economy has been growing for several years. The upturn is not robust, certainly when compared with previous recoveries, but that's far different than being in a recession, which ended in the middle of 2009. Chart from Calculated Risk shows the recent quarters of growth (shading denotes periods of recession).

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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