Optimism about household wealth is collapsing

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STORY: Barely two in five people believe their families will be better off in the future

Source: Edelman Trust Barometer

That’s according to a global survey that has polled thousands of people for over two decades

Globally, only 40% of respondents agreed their families would be better off in five years

Advanced economies were the most downbeat

In the U.S., 36% of respondents agreed, compared with 23% of Brits and 9% of Japanese

Only China bucked the trend with a one percentage point rise to 65%

The survey interviewed 32,000 respondents in 28 countries in November 2022

It further confirmed that societies have been divided by the impacts of the pandemic and inflation

There were class divides, too, with growing levels of distrust in institutions among low-income households

The results come amid warnings from the World Bank that the global economy could tip into recession in 2023