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New inflation report: positive signals for economy
In the new report released this week, data points show price spikes are on the mend, and the economy is growing. Federal Reserve Chair Jerome Powell is still on track to cut interest rates. While these are positive signs, the labor market is now presenting challenges. Dr. Mike Walden, an economist, joins LiveNOW from FOX.
LOS ANGELES - A new Gallup poll reveals that for the first time since it began tracking views on U.S. industries, Americans have a more negative than positive opinion of the grocery industry.
The shift in perception is largely due to rising food prices and growing concerns about food safety. Nearly half of respondents (47%) expressed a negative opinion of the grocery sector, with only 33% viewing it positively.
This marks a significant change from the typical favorability the grocery industry has enjoyed. Since 2001, Americans have generally rated the grocery industry positively, with an average of 52% giving it favorable marks. However, economic pressures, such as inflation and product recalls, have dampened confidence in recent years.
Restaurant ratings drop to near record lows
Similarly, the restaurant industry has experienced a dip in favorability, with only 52% of respondents holding a positive view, down nine percentage points from the previous year. The negative perception comes at a time when the cost of dining out has risen, and staffing shortages persist across the hospitality sector. The last time restaurant ratings were this low was during the 2008 financial crisis.
Sports industry rebounds in public opinion
While the grocery and restaurant industries saw declines, the sports industry experienced a positive turnaround.
After years of low ratings, Gallup’s poll shows a recovery, with 42% of Americans now viewing the sports industry positively, a jump from 31% in 2023. This improvement is believed to reflect the resolution of recent controversies, such as COVID-19 restrictions and athletes’ protests.