Tuesday, August 4, 2009

How Much Longer Will The Recession Last?
The Results Are In

Posted below are the results from our poll given two weeks ago concerning the length of our present recession. The numbers leave us with two important things to take away:

1. Most respondents, 78%, trended towards the middle. In this case I’m defining the middle as “Less Than One Year”, “One Year” and “More Than One Year”. In other, less scientific words, 78% of respondents believe the recession will end in a year, give or take a few months.

2. In terms of the extremes “Its Already Over” and “More Than Two Years”, we see large disparity trending towards the latter. 17% of people answered “More than Two Years” compared to only 5% for “It’s Already Over”. This leaves one with the impression that more people tend to think extremely negative of our situation than positive.

When compared with results returned by other polls, such as “The Harris Poll” released on July 15th, we can see a correlation. 63% of their respondents answered between “Less than 6 months” and “Between 1 and 2 years”, which is roughly comparable to our middle range of 78% answering between “Less Than One Year” and “More Than One Year”. Though our results show a higher skew in that data range, both polls returned a majority in that area.

Of higher significance is the number of people whose predictions ranged beyond two years. In our poll that number was 17% but in the Harris poll, if their latter two categories of “In more than 2 years” and “I do not expect the recession to end in the foreseeable future” are coupled together, that number is 38%, more than twice as large. So while both polls show a skew to the extreme negative over positive, theirs is certainly higher pronounced.

Harris Poll: When Do You Expect The Recession to End?

All in all, both polls have more similarities than differences, with the clear results being most people think the recession will end in roughly a year and of those remaining, that the recession will last more than two years. The one difference is a more pronounced trend to the positive in our poll, implications being that GlobeSt readers are of the more upbeat variety.

1 comment:

  1. This is what got us into this mess and will get us out. About two years ago the press starting predicting we're going into a recession, people started sitting on their wallets, and the result was a recession. Now the press is saying we'll be out of this in a year,and people are now planning to start spending money in a year, and we'll see a recovery!