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Consumers Worried About Economic Recovery Faultering (RATE)
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Even if the growth is muted and even if employment remains pressured, things have continued to improve in America. It turns out that not everyone expects the recovery to last. A release from Bankrate.com (NYSE: RATE) shows that only about 50% of Americans are actually confident that the economic recovery will continue throughout 2012. Without much surprise, it is the current circumstances driving the results of the poll.
Greg McBride, senior financial analyst for Bankrate.com, believes that this lack of conviction regarding a sustained economic recovery could become a self-fulfilling prophecy if it also translates into lower consumer spending. With about 70% of GDP tied to consumers he noted, “a hesitant consumer delays recovery in the housing market and the overall economy.”
Bankrate noted from its poll:
When asked about ‘will the recovery continue throughout 2012?:
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