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Business

Americans are not feeling generous to some businesses right now




Farms and restaurants are now the only parts of the U.S. economy that a majority of Americans view favorably, according to a new Gallup poll.

Almost every other industry, from banking to education to movies and sports, sees fewer than half of Americans having favorable views of them now, compared to a year ago.

In Gallup’s study, the organization asks participants in the survey to assess various industries using a five-point scale ranging from “very positive” to “very negative”. Only one industry – computers – sees an even distribution, with 50% of respondents having a positive impression and the rest either seeing it neutrally or negatively. But that̵[ads1]7;s down from a record positive rating of 75% for the industry in 2017.

Overall, the average favorable rating across 25 industries has fallen to 36% — near the 34% low seen in 2008, Gallup said.

No business sector saw a significant increase in favorable reviews over the past year, the polling group found. In particular, the positive assessment for the grocery industry fell 14 points from last year, in line with the gradual increase in food prices.

Gallup describes the latest survey results as emblematic of the bad mood American consumers are in right now, thanks in part to high inflation and economic uncertainty. Inflation in the US has been at a 40-year high for most of the year, making it more expensive for people to maintain their standard of living.

Some of the industries with the most negative assessments are oil and gas with 62%. With 47%, healthcare and education just miss the majority-negative cut.

Farming, which includes agriculture, and restaurants have been consistently top-ranked industries since Gallup began the survey in 2001. In this most recent survey, the restaurant industry ranked highly among 60% of respondents and agriculture/agriculture landed at 57%. Grocery has also been a top-ranked business sector, and although it saw a sharp decline in the past year, at 40% positive, it still ranks higher than many others.

The federal government has been the lowest-rated industry every year since 2014, Gallup said. With 25% this year, it is mainly linked to the oil and gas industry (22%) for the lowest place.



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