Looking at 2011 Economy – Optimists Double Pessimists.

Twice as many Americans think the U.S. economy will be better rather than worse in 2011.

Americans living in the East and Midwest are a little more optimistic about the economic outlook for 2011 than those living in the South and West. Americans making $75,000 or more in annual income are slightly more optimistic than other Americans, and Democrats are considerably more optimistic than their independent and Republican counterparts.

Americans Report More Modest Differences in Their Personal Financial Situations

Americans are somewhat less positive about their personal economic situations than the economy more broadly. Forty-four percent think their personal situation will be better in 2011, while 16% think it will be worse. Fewer Americans in the West are optimistic about their personal situations than in other regions. Americans making $75,000 or more in annual income are more optimistic than other Americans, and Democrats are slightly more optimistic than independents and Republicans.

Americans’ optimism about the economy parallels their generally optimistic expectations for 2011. This tends to be the case across regions, incomes, and party affiliation.

This overall increase in optimism was in place prior to the passage of new legislation at the end of the lame-duck Congress and the surge in spending at the end of the Christmas holiday. Recent Gallup Daily tracking results show that consumers only became increasingly optimistic about the economy as 2010 came to an end.

On the other hand, the potential fragility surrounding Americans’ optimism as they look toward 2011 is reflected by consumers’ view of their own financial situations. Americans express less optimism about their own situations, and this reveals more modest differences across regions, incomes, and party affiliation. This may result from Americans being closer to their own financial situations and recognizing the relative stability of those situations. In turn, it also suggests that at least some part of Americans’ optimism about 2011 is based on their general perceptions of the overall economic climate rather than their own experiences and expectations about their personal financial situations.

For more information at http://www.gallup.com/>