Banks’ support of their communities during the ongoing COVID-19 pandemic has impacted how consumers view the industry, according to recent data from Gallup.
The 2020 Views of Business and Industry Sectors is a broad survey designed to gauge Americans’ overall impression of 25 different sectors. Polling took place between July 30 and Aug. 12, 2020 and asked participants to indicate whether their overall view of a particular industry is very positive, somewhat positive, neutral, somewhat negative, or very negative.
For the first time in the poll’s 20 years, farming and agriculture is the “clear leader,” according to Gallup. The sector saw the second-largest swing in perception from 2019’s results, moving up 11 percentage points; healthcare saw the largest jump (13 points), moving up to the middle of the 13th spot.
For the banking sector, the share of consumers who indicate a negative view of the industry dropped to its lowest point since 2007, declining three percentage points to 22%. However, 46% of respondents rated the banking industry favorably, down four points from 2019. Overall, banking ranked 11th, with a net positive rating of 24%, just behind the telephone, real estate, and electric and gas utilities industries, and just ahead of the internet, healthcare, and education industries.
Despite a seven-point increase, the pharmaceutical industry still ranked 24th with a net score of -15. That move dropped the federal government into the bottom slot, with a net score of -20.