Americans' confidence in the US economy is declining

In November, Americans trust in the state of the US economy dropped significantly, presenting a challenge for the administration as it seeks to demonstrate the effectiveness of its economic policies. According to Gallup's recent survey, the economic confidence index fell by seven points, reaching its lowest level since July 2024.

Only around 20% of adults in the US rated the current economic situation as excellent or good, while 40% described it as poor. Furthermore, just 27% believe the economy is on an upward trajectory, whereas 68% feel it is deteriorating.

The pessimism also affects perceptions of the job market, with nearly two-thirds of respondents indicating that it is an unfavorable time to seek employment. Holiday spending plans have also been impacted, with Americans reporting an expected average expenditure of $778 on gifts this season, down from the $1,007 anticipated in the previous month.

Author: Maya Henderson