You Vote: Are you confident about the direction of the U.S. economy?

Amid historically high inflation, GDP contracted in first quarter of this year.

Updated: April 28, 2022 - 4:11pm

The Facts Inside Our Reporter’s Notebook

The U.S. economy shrank in the first quarter of this year, with gross domestic product declining at a 1.4% annualized pace, according to figures released Thursday by the U.S. Bureau of Economic Analysis.

While the economy contracted, consumer spending rose by 2.7% and business investment increased by 7.3%.

The bureau's report came two weeks after the Labor Department said U.S. inflation surged to a new four-decade high of 8.5% in March from the same month a year ago.

Last month, the unemployment rate declined to 3.6%, according to the U.S. Bureau of Labor Statistics, although the so-called U-6 real unemployment rate, which also measures those who are underemployed, marginally attached to the workforce, and have given up looking for work, was at 7.1% not seasonally adjusted.

Many economists are saying the economy won't fall into a recession, but polling has indicated Americans are feeling the economic pain of inflation.

In light of the latest figures showing a decline in GDP, are you optimistic or pessimistic about the country's economic situation moving forward? Here's your chance to weigh in:

On a scale of 1-5, how confident are you about the direction of the U.S. economy?


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