Gallup data released on Tuesday showed that Americans were becoming increasingly negative about the state of the economy and believed it was getting worse.
Only one percent of Americans think the economy is “great”, Gallup said on Tuesday. 13 percent think that economic conditions are “good”. 46% of respondents describe economic conditions as “bad”, while another 39% describe them as “relatively satisfactory”.
This indicates that the public’s perception of the economy is rapidly deteriorating. In April, 20% of Americans rated the economy as good or efficient, and 42% as “weak.”
Seventy-seven percent of the population say the economic situation is deteriorating. Only 20% said the situation had improved.
“Economic issues come to the fore prominently when Americans are asked without the obligation to name the most important issue facing the United States,” Gallup said. “18 percent specifically mentioned inflation and 12 percent talked about the economy as a whole. Inflation essentially attributes the government to a major common problem, with 19 percent naming the government.
The last time inflation became a major concern was April 1983. Between 1990 and 2021, an average of 1 percent of Americans called inflation, according to Gallup.
The Gallup Economic Confidence Index fell from minus 39 in April and March to minus 45 in May. This is the lowest level since early 2009, when the economy was in a financial crisis and the unemployment rate was 8.3 percent. The unemployment rate fell to 3.6 percent in April. Economists expect the unemployment rate to drop to 3.5% when the government releases May employment data on Friday.
The latest results are based on a Gallup poll from May 2-22.
Source: Breitbart
