A Majority of Republicans, Democrats, and Independents Expect a Recession in 2019
Little wonder why many may feel uncertainty. One symptom of growing anxiety is increased fears of a recession coming in 2019, according to a new poll from Axios in partnership with SurveyMonkey.
Despite nearly 60% of Americans believing the economy is still growing, approximately 65% still expect a recession is likely within the next year. However, those numbers vary widely by political affiliation.
Only 36% of Democrats thought the economy was growing, compared to 47% of Independents and 84% of Republicans.
The rifts by party are just as wide when it comes to looking at the next 12 months. About 82% of Democrats thought that a recession by early 2020 was likely, compared to 62% of Independents and only 53% of Republicans, although still a majority.
The poll of 2,301 adults took place online between December 17 and 18, 2018. The margin of error was ±3.0%.
The sentiments echo those of CFOs surveyed on December 7 by Duke University and CFO Magazine. Eighty-two percent of U.S. CFOs expected a recession to start by the end of 2020 and almost half thought 2019 would see one. Chief financial offers in many other regions were more pessimistic, with 86% of Canadian, 67% of European, 54% of Asian, and 97% of African officers expecting a recession to start in 2019.
All the views were obtained before the worst December rout since the Great Depression.