CCTV Script 08/10/14


— This is the script of CNBC's news report for China's CCTV on October 8, Wednesday.

Welcome to the CNBC Business Daily, I'm Qian Chen.

The Dow Jones Industrial Average had the worst selling day in more than two months, settling at the lowest levels since mid-August.

The IMF upgraded its U.S. growth forecasts for the remainder of 2014 and next year.

And it warned that some markets could be getting ahead of themselves, considering that the Fed looks like its getting set for an interest rate hike.

But despite an improving economy and the lowest unemployment rate in 6 years, Americans are still not happy.

According to a CNBC survey the public's view of Barack Obama's economic leadership is at its lowest level of his presidency.

Steve Liesmen reports.

The good news when it comes to the American economy, the CNBC all America survey finds 18% think the economy is in good or excellent shape. The bad news-79% in the nationwide poll with 805 Americans judge that it is just fair or poor and both numbers remain depressed as compared to where they were before the financial crisis. More good news, jus 28% see the economy getting worse in the next year. But in an economy worked by tepid growth, 42% think it will remain the same and just about half that think it will get better. Its that kind of economy, rationally imporved from where it was during the great recession but still below the level americans have become accustomed to pre crisis.

[Jay Campbell, Senior VP, Hart Research Associates] "I do think that the employment rate being as low as it is, that's not what people think about. They think about their own jobs, student loans, difficulty in paying for their kid's college education when things are improving albeit very slowly, people get tired of waiting."

What have been these attitudes? The outlook for housing seems to explain. Americans look for their home values to grow by almost 2% next year, half of what they expected before the crisis, but better than it was iune 2008-2012, where the average American thought that their hom,e would decline in value. Americans also don't seem too in love with the stock market these days. Just about a third say now is a good time to invest in equities, down slightly from a year ago. A very large 29% of Americans are unsure about stocks right now and given the uncertainty and outlook, unsure seems about the smartest call of all. Back to you guys.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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