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What Do Americans Think About the Economy?

At the highest levels of our economy, business and financial leaders have different opinions about the near future, reports The Wall Street Journal (subscription).

The breakdown: “At least two-thirds of CEOs of the biggest companies surveyed said they expected the next six months to bring worsening customer demand, industry conditions, access to capital and domestic and global growth, the survey from CEO advisory firm Teneo Holdings LLC found.”

  • However, “among both midsize company CEOs and large investors, two-thirds or more expect improvement in the same areas over the next six months,” the survey found.

Meanwhile, most Americans think the U.S. economy will get worse next year, according to The Wall Street Journal (subscription) again.

  • More than half of respondents to a Wall Street Journal poll expect that the economy will be worse in 2023 than it is now, with two-thirds saying the “economic trajectory is headed in the wrong direction.”
  • On the bright side, “The poll shows financial pressure from inflation is stabilizing, as gasoline prices and overall inflation have eased. After rising throughout 2022, the share who say higher prices are causing major financial strains has been flat since the Journal’s October survey, at about 35%.”

A last data point: Homebuilder sentiment fell in December, marking the 12th straight month of declines, according to CNBC.

  • Although the National Association of Home Builders/Wells Fargo Housing Market Index showed a two-point drop to 31 in December, the fall is the smallest decline in the past six months, raising hopes that the industry could see a turnaround.
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