Affirm负责产品的高级副总裁 Vishal Kapoor 表示，持续的通货膨胀给家庭带来了沉重的压力。According to a new survey of 2,000 adults by Affirm, about three-fifths of Americans believe that the USA is currently in a recession.
The majority of Americans do not believe that the USA is doing well economically, despite strong performance across many indicators, according to a new survey of 2,000 adults by Affirm. About three-fifths of Americans believe that the USA is currently in a recession.
Affirm's June survey found that most respondents believed that the economic recession began about 15 months ago, in March of last year, and may continue until July 2025, due to rising costs and financial difficulties balancing income and expenses.
Vishal Kapoor, Senior Vice President of Products at Affirm, said that sustained inflation is putting heavy pressure on families.
"Because of low confidence in the US economy, consumers are urgently seeking ways to control their financial situation," said Kapoor.
Despite growth in US GDP over the past few years, 56% of respondents believe that the USA is currently in a recession, according to another Guardian survey conducted in May.
The official definition of an economic recession, according to the US Bureau of Economic Analysis, is "a significant decline in economic activity, spread across the economy, lasting more than a few months." There have been over a dozen economic recessions in the past century, some lasting as long as a year and a half. The last official recession began in 2020 at the start of the COVID-19 pandemic.
Regardless of the USA's economic situation, many Americans are struggling to pay for basic necessities, with most having depleted their savings and now relying on credit cards to make ends meet.
The USA is currently in a "recessionary tremor."
Economists have been working to address the growing disconnect between economic performance and people's perception of their own financial situation.
Joyce Chang, Chair of Global Research for JPMorgan, stated in May that we are in a "recession." "If you have a house or financial assets, you're doing well, but you're ignoring a big part of the population."
Referring to the past few years, Chang said, "wealth creation has been concentrated in homeowners and higher income brackets, but there's probably about a third of the population left out - that's why there's this disconnect."
With more and more households struggling to cope with rising prices and interest rates, signs of new financial strain are emerging.
More and more consumers are falling behind on credit card payments each month. The New York Fed reported in May that around 8.9% of credit card balances had turned into delinquencies over the past year.
More middle-income families are expected to struggle to repay their debts in the coming months.