A recent Gallup survey revealed a decrease in Americans’ confidence in the economy by nine points compared to last month, marking the first decline since the fall. The Gallup Economic Confidence Index, which measures public perception of current economic conditions, stands at -29 for April, down from -20 in March. This index ranges from +100 (excellent) to -100 (poor) based on public ratings of the economy.
According to the survey, 24% of U.S. adults believe the current economic conditions are excellent or good, while 32% think they are only fair and 44% view them as poor. These numbers have fluctuated compared to March, with a decrease in positive ratings and an increase in negative ones.
Across political lines, there has been a general decrease in economic confidence in April. Democrats and independents saw a decline in their index scores, while Republicans expressed overwhelmingly negative sentiments. Despite President Biden’s efforts to improve the economy through various policies and initiatives, his administration has faced criticism for high inflation rates and rising gas prices.
The Gallup survey conducted from April 1-22 found that various economic factors contributed to the decline in economic confidence. High interest rates have also affected consumer spending and investment decisions. The survey was conducted among 1,001 adults and has a margin of error of 4 percentage points.
