Economic confidence decreased to 89.9 in this month’s
Rasmussen Reports Economic Index, nearly four points lower than
January. Enthusiasm about the economy surged under former President Donald Trump, reaching as high as 147.8 in January 2020 before tumbling after the coronavirus lockdown threw Americans out of work and closed many businesses. By November 2020, it had recovered to 126.4, but dropped sharply after President Joe Biden was elected. The index fell to 97.8 in February 2021 before beginning a three-month rebound that took the index to 123.7 in May 2021.
Twenty-eight percent (28%) of American Adults rate the economy as excellent or good this month, up one point from last month, and but still 14 points below the 42% mark in November 2020. The number who rate the economy as poor was 47%, up two points from January. Twenty-three percent (23%) now think the economy is getting better, up two points from last month. Fifty-eight percent (58%) expect a worsening economy, up two points from January. Fifteen percent (15%) now see things staying about the same, down two points from last month. Forty-five percent (45%) of Democrats view the economy as good or excellent, compared to 17% of Republicans and 20% of those not affiliated with either major party. GOP confidence has declined more than 50 points since November 2020, when 74% of Republicans had a positive view of the economy, while Democrats’ confidence is now 13 points higher than it was before Biden’s election, when 32% of Democrats rated the economy good or excellent.