American Confidence In The Economy Remains Depressed

A new Gallup survey has found that American confidence in the economy remains depressed and only 18% of Americans are satisfied with the state of the nation, around half of the 35% historical average.

• Gallup notes that confidence in the economy, "like the national satisfaction measure, it is not as low as last summer, when it fell to -58 in June 2022, the lowest Gallup had recorded since the Great Recession.
• “Seventeen percent of Americans evaluate economic conditions as either “excellent” or “good,” 36% say they are “only fair,” and 47% describe them as “poor.”
• “Meanwhile, 20% say the economy is getting better and 76% believe it is getting worse.
• “Americans’ evaluations of both current economic conditions and their outlook for the economy have been slightly worse in April and May than in prior months.”

Figure 1: Economic Confidence Index (Recent Trend)

Source: Gallup