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COVID-19: Poll Shows How Many Are 'Very Concerned' Economy Will Fall Into Depression

Many Americans are concerned the economy won't bounce back after the novel coronavirus (COVID-19) outbreak.
Many Americans are concerned the economy won't bounce back after the novel coronavirus (COVID-19) outbreak. Photo Credit: Pixabay

Some Americans are “very concerned” that local, state, and national economies could fall into an economic depression as the country begins to recover from the novel coronavirus (COVID-19) crisis.

A Quinnipiac University poll of 1,323 voters conducted between Thursday, May 14, and Monday, May 18 found that about four in 10 voters (42 percent) say they are “very concerned the economy will fall into a depression.

The poll also determined that 39 percent are “somewhat concerned,” 11 percent are “not so concerned,” and 8 percent are “not concerned at all.” 

According to the Asian Development Bank, the COVID-19 pandemic could cost the global economy between $5.8 trillion and $8.8 trillion.

Quinnipiac University Polling Analyst Tim Malloy said that 74 percent of voters believe the economy is “not so go good or poor,” versus 23 percent who rate it as “excellent or good.”

Pollsters noted that five months ago, in December last year, voters’ rating of the economy hit an all-time high, with 73 rating it as “excellent or good,” while 25 percent rated it as “not so good or poor.”

To help offset the economic impact the virus has had on individuals, 62 percent believe that another stimulus bill should be passed by Congress to address the pandemic, though 30 percent believe the country has “done enough” to address the pandemic’s impact on economies, despite a spike in Americans filing for unemployment. 

The complete Quinnipiac poll, which includes 51 questions, can be found here.

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