Americans’ View of Business Hits 14 Years Low

Americans’ View of Business Hits 14 Years Low

Americans’ opinion of companies has collapsed this year amid historic inflation, according to a Gallup poll released Friday.

The survey found that 36 percent of Americans have a positive view of businesses, compared to 45 percent before the pandemic. That is the lowest figure since the Great Recession in 2008.

The sour mood seems to stem from record prices for food, energy and homes. The favorable position of the food industry decreased by 14 percentage points from last year, the largest decline in the survey. The favorable position of the real estate sector fell by 9 points, the second largest decline.

Only 22 percent of respondents said they have a positive image of the oil and gas industry, compared to 28 percent last year. Twenty-nine percent said they have a positive image of electricity and gas companies, compared to 36 percent last year.

Groceries prices rose a staggering 13.1 percent in the past 12 months ending July, the largest annual increase in more than four decades, according to data from the Labor Department.

Home affordability has fallen to its lowest level since the Great Recession, according to the National Association of Home Builders, with rents and home prices at record levels.

Gas prices hit an all-time high in June before falling in recent months, while energy bills are also skyrocketing due to massive demand for natural gas.

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