Many consumers believe we have been in a recession for more than a year, but economists say that’s not what the data is showing us. They say consumer’s have mistakenly believed the economy is weaker than it is like a “bad vibe” or “vibecession.” But with inflation coming back down to earth and rate cuts on the horizon, those bad vibes are starting to disappear.

A recent report on consumer sentiment shows that three out of five Americans mistakenly believe we have been in a recession for more than a year now. The survey was done by Affirm in June with responses from 2,000 adults. The biggest reasons for feeling this way boil down to higher prices and tougher times making ends meet. 

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REFERENCES: 1 - https://www.cnbc.com/2024/09/09/the-vibecession-is-ending-economists-say.html?__source=realestate%7cnews%7c&par=realestate   2 - https://www.cnbc.com/2024/08/12/59percent-of-americans-think-the-us-is-in-a-recession-report-finds.html   3 - https://www.cnbc.com/2024/09/11/cpi-inflation-report-august-2024-.html