Survey Sponsored by U.S. Financial News Circuit Says 66% of Adults Fear 2020 Recession

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CNBC just released the findings of its most recent Invest in You poll sponsored by Survey Monkey. Respondents took the economic poll from October 20 to October 25.

The news pipeline and top-tier data miner assigned the Invest in You survey for 2,7776 adults. The pollsters were asked about their individual financial situations. The subjects were also probed about how they felt as it pertains to certain candidates running for office in next year’s presidential election.

A percentage of the adults who took the survey based their answers on how positive or negative the election of some candidates would impact their personal outlooks economically. The margin of error for the CNBC/Survey Monkey Invest in You poll was fairly slim at plus or minus three percentage points.

Overall, the five-day data collection process yielded a result that reflected more pessimism than optimism among the subjects. According to CNBC’s Veteran’s Day report about the survey, the majority of the pessimists were either registered Democratic voters or young adults. Collectively, 66 percent of the respondents revealed their fears about a 2020 recession.

Out of the 66 percent of the survey subjects who believed the U.S. economy will weaken next year, 46 percent of them identified themselves as Republicans. The remaining 84 percent disclosed that they were Democrats. Contrary to these less than positive economic forecasts, the U.S. economy by today’s volatile standards is moderately going strong.

According to a BBC report that displayed a chart from Bloomberg’s 2019 study findings, the Dow Jones industrial average has reached record highs. However, there are foreign policy issues, such as the hyperbolic U.S. trade stories concerning China. Though 2020 is an election year, many respondents are more interested in voting on non-economy issues.

However, among registered Democrats (a respondent group that disclosed its voting interests) personal economic growth is stagnant, according to the group’s survey answers.

“Among Democrats, 41% say they are about the same financially as in 2016, while 32% say they are worse off and 27% say they are better off,” the survey report said.

Study the chart below to learn more about the Invest in You study.

Photo credits: CNBC