Why do so many Americans think we're in a RECESSION?

Why do so many Americans think were in a RECESSION?

According to a recent Harris poll published by the Guardian.

Among the 2,000+ participants in the survey:

* 56% think the US is currently experiencing a recession, and 55% believe the economy is shrinking. (GDP—a key measure of economic activity—is growing.)
* 72% believe inflation is going up. (It’s more than halved from a 2022 peak of 9.1% and is hovering between 3% and 4%.)
* 49% think the current unemployment rate is at a 50-year high. (It’s near a 50-year low.)
* 49% believe the S&P 500 is on the decline. (It’s risen more than 12% this year, and Wall Street is raising its expectations for the index’s year-end performance. The Dow also just made record gains.)

So, why do you think so many Americans think we're in a recession... when we are not?

22 d
Thanks for everyone's input. Bottom line is that, though the US is technically not in an economic recession, the way economists define it, the average person is struggling, and that is more important than the textbook definition of recession.

As a general rule, perception is more important than fact... and this is an excellent example of that.
Why do so many Americans think we're in a RECESSION?
Post Opinion