The Gallup Economic Confidence Index, which measures the public’s opinion on current economic conditions, has dropped to -29 in April from -20 in March. This marks the first decrease in confidence since the fall.
The index ranges from +100 to -100, with higher numbers indicating positive economic conditions and lower numbers indicating poor economic conditions. In April, 44 percent of U.S. adults rated the economic conditions as “poor,” while 24 percent considered them “excellent” or “good.” Meanwhile, 32 percent rated them as “only fair.”
According to a survey conducted in early April when gas prices and inflation were rising, the stock market was retreating from its record highs, and interest rates remained high, Americans’ confidence in the economy declined across political lines. Democrats experienced a four-point drop in their index score, while Republicans expressed overwhelmingly negative views. Despite this decline, it is important to note that this marks only the first decrease since last month and not necessarily an indication of a larger trend.