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Poll: More Americans fear economy weakening
More than four out of five say that they are concerned about inflation; interest rates also grab attention.

WASHINGTON (CNN) - Despite strong growth and a stock-market rally that has brought the Dow Jones Industrial Average back to near-record highs, growing numbers of Americans fear the economy is turning sour on them, a new poll found Wednesday.

A CNN poll conducted by Opinion Research Corporation found that 52 percent consider the economy "good," while 47 percent call it "poor." More than four out of five - 82 percent - said they are concerned about inflation, with 45 percent describing themselves as "very concerned."

Pollsters quizzed 1,021 people from Friday through Sunday. The survey had a sampling error of 3 percentage points.

Those polled also expressed concerns about rising interest rates, with 39 percent saying they are very worried that borrowing costs will go up. But they are less worried about the stock market, with only 22 percent telling pollsters they are very concerned about another stock skid.

A total of 10 percent said the economy was in "very good" shape. Another 42 percent considered it "somewhat good," while 26 percent said "somewhat poor" and 21 percent called it "very poor."

Despite strong economic growth in the past two quarters, more Americans give the economy poor marks than they did in February, when just 41 percent said they considered the economy weak.

With gasoline prices rising to a nationwide average of nearly $3 a gallon in recent months and with the Federal Reserve weighing another increase in interest rates to restrain inflation, 45 percent said they are very concerned about inflation. Another 37 percent described themselves as "somewhat concerned," while just 17 percent said inflation is not a concern for them.

Thirty-nine percent said they are "very concerned" about interest rates going up. Another 38 percent described themselves as "somewhat concerned," and 21 percent said they are not concerned.

The public's attitude toward inflation and interest rates mirror surveys taken in 1994, the last time the majority party in Congress lost power. With growing numbers of Americans saying they are spending less and driving less as a result of higher gas prices, concerns about the economy may be justified.

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Fed raises rates again - full story here.

U.S.: First gasoline price drop in 6 weeks - full story hereTop of page

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