Texans view state’s economic growth as good, but resent rising prices – CBS News Poll
Texans rate their state’s economy higher than Americans rate it nationwide, and they’re generally optimistic about Texas — far more than they are about the national economy.
Texans see their state’s economic growth in a positive light – two in three Texans say new businesses are coming to Texas and that increased construction, growth and development in the state is making Texas better .
But all is not rosy in the state of Lone Star. Their views on the state’s economy are only mixed — they’re just better compared to the country’s very low ratings. And many Texans aren’t just concerned about inflation and gas prices, rising prices are causing reduced spending and reported hardship, especially for low-income people, just as it is for Americans in general.
Most Texans are optimistic about their family’s financial situation, but there are clear concerns about the impact of inflation; Texans are not spared. They are pessimistic about the cost of goods and services. For most, higher prices have impacted their lives, and the price of gas, in particular, has been a hardship, and low-income Texans say they are disproportionately affected.
The optimism is tempered by concerns about inflation, and in particular the cost of gasoline.
Gas prices and inflation top a list of important issues, just ahead of the economy as a whole, and above gun politics and education. So while most Texans are optimistic about their family’s finances, a large majority are pessimistic about the cost of goods and services in particular.
Gas prices have had a particularly broad impact. Two-thirds of Texans say the rising gas prices Texans are facing have been a financial hardship, including three in 10 who describe it as financial hardship.
Most Texans feel the pinch personally — seven in 10 reduce entertainment or other activities and reduce travel and travel. Most have also felt the effect when it comes to day-to-day activities – 57% are cutting back on food and grocery shopping due to rising prices, and 68% say they are driving less.
Some Texans fare less well. Half of them say they have had to use their savings to pay bills, and a third say they have completely missed paying some bills.
Low-income Texans have felt the day-to-day impact the most. Two-thirds of people earning less than $50,000 a year had to cut back on food and grocery spending, and about half had to dip into their savings to pay their bills. This group is also more likely than high-income families to have missed bill payments.
This CBS News/YouGov survey was conducted among a statewide representative sample of 1,075 American adult residents in Texas surveyed between June 22-27, 2022. The sample was weighted to be representative of state adults by gender, age, race, education, and geographic region based on the U.S. Census Current Population Survey, as well as the 2020 presidential vote. Margin of error is ±4 .7 points for the total sample.