For most Americans the numbers on the tills at the grocery store matter more than the numbers on the tickers on Wall Street
Y SOME MEASURES, America has spent 2021 recovering from the worst of the impact of covid-19 on its economy. Stockmarket indices have been breaking records and unemployment is well down from last year. But asking Americans how they think their economy is doing shows a different picture.A daily newsletter with the best of our journalismThe Economist
, 46% of American adults believe the state of the economy is “getting worse” whereas only 19% think it is “getting better.” Just six months ago, roughly 30% of Americans polled believed that the country’s economy was improving. Why have they changed their minds? One cause of this paradox is that although American workers are finding jobs, the cost of the things they need to buy with their wages has increased rapidly in recent months. In October the consumer-price index rose by 6.2% compared with a year earlier,
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