Gallup’s recent survey reveals a nine-point decline in Americans’ confidence in the economy since last month, marking the first decrease since the fall. The Gallup Economic Confidence Index, which reflects public perception of current economic conditions, dropped to -29 in April from -20 in March. The index has a potential range of +100 to -100, with +100 representing all individuals rating the economy as good and -100 indicating all people rating it as poor.
In April, 24 percent of U.S. adults viewed economic conditions as “excellent” or “good,” 32 percent said conditions were “only fair,” and 44 percent rated them as “poor.” Despite Democrats traditionally being more optimistic about the economy, their confidence decreased by four points, from 35 to 31. Similarly, independents saw a decline of 10 points, dropping from -28 to -38. Republicans, who have been particularly negative about the economy under President Biden, recorded a significant decrease in confidence, falling from -62 to -71.
The overall index had reached its lowest point in October 2023, at -41, then increased. Americans have indicated a perception of the economy as improving despite the recent drop in confidence. Historical data from Gallup shows that the index reached its highest score of +56 in January 2000 and its lowest at -72 in October 2008.
The survey was conducted between April 1-22 during a period of rising gas prices and inflation, fluctuating stock markets and high interest rates. The study included 1,
