A recent Gallup survey found that only twenty-four percent of U.S. adults believe that the current economic conditions are excellent or good, with thirty-two percent describing them as only fair. This is a decrease from the previous month and represents a significant drop in positive ratings for the economy. Forty-four percent of respondents rated the economic conditions as poor, indicating widespread dissatisfaction with the current state of affairs.
The survey also revealed that outlooks regarding the economy have dimmed across political lines in April, with Democrats, Independents, and Republicans all experiencing a decline in their index scores compared to March. Democrats saw a four-point decline in their index score from 35 to 31, while Independents’ index score dropped by 10 points from -28 to -38. Republicans, who have expressed negative views towards the economy under President Biden, had their confidence decline from -62 in March to -71.
The index representing economic confidence had dropped significantly during the early stages of the pandemic but briefly reached above zero in April 2021 and June 2021 before returning to negative territory once again. The survey was conducted from April 1 to 22 amidst rising gas prices and inflation, a pullback in the stock market’s gains, and high interest rates. It involved 1,001 adults with a margin of error of 4 percentage points. For more information on this topic, visit The Hill’s Lauren Irwin’s article.
