Household wealth optimism collapses, global survey shows
World
Economic pessimism greatest in major countries, Low-income families more skeptical of institutions
(Reuters) - According to a regular worldwide poll just about two out of every five people think their family will be better off in the future. The survey also found that low-income households have an increasing degree of mistrust for institutions.
In several of the major countries in the world including United States, Britain, Germany and Japan economic pessimism was at its greatest, according to the Edelman Trust Barometer, which has surveyed thousands of people s opinions for more than 20 years.
It provided more evidence of how the effects of the epidemic and inflation had split society apart. The majority of higher-income households continue to have faith in organisations including the government, business, media and NGOs. But among low-income people estrangement is pervasive.
Only 40 percent of people worldwide, down from 50 percent a year earlier, agreed with the statement "my family and I will be better off in five years," with industrialised economies including the United States (36 percent), Britain (23 percent), Germany (15 percent) and Japan (nine percent) being the most pessimistic.
A significant portion of respondents in some of those nations including Argentina, United States, South Africa, Spain, Sweden and Colombia agreed with the statement, "I see profound divides and I don t think we ll ever move past them."
While such sentiments often reflect current events, the survey s primary theme for several years has been the decline in public trust in particular. This year public trust in government was far lower than the relatively robust levels recorded by industry.
