Polls Show Growing Pessimism Over US Economy

Americans are becoming increasingly pessimistic about the state of the US economy, with large majorities saying conditions are deteriorating and many blaming President Donald Trump’s policies, according to several national polls released over the past week.

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The surveys indicate rising concern over inflation, high fuel and food costs, and personal financial pressures, even as financial markets have recently reached record highs.

Majority say economy is worsening

A poll by Gallup found that nearly half of Americans, 47%, now describe current economic conditions as “poor,” an increase of seven percentage points since March. At the same time, 73% said the economy is getting worse, also up seven points over the past month.

A separate Fox News survey reported similar sentiment. About 70% of registered voters said they believed the economy was deteriorating, matching a record level previously seen in 2023 and rising 15 points compared with April last year.

In the Fox poll, 41% of respondents rated the economy poorly, while roughly a quarter said it was performing well. Republicans were significantly more likely than Democrats to view the economy positively.

The Gallup Economic Confidence Index also fell sharply. The measure dropped from -27 in March to -38 in April, its lowest reading since November 2023. The index ranges from -100, indicating extremely negative sentiment, to +100, representing strong confidence.

Although Republicans remained the only political group giving the economy a positive overall rating, their confidence declined markedly, falling 15 points between March and April. Democrats and independents also reported declines, though less steep.

Concerns about inflation and policy

Several polls suggest many Americans expect price pressures to worsen.

A survey conducted by Marquette Law School found that 70% of respondents believe inflation will increase over the next 12 months, up nine points from January. The same poll found 62% saying Trump’s policies would contribute to higher inflation, compared with 45% who held that view at the end of 2025.

In the Fox News poll, voters said by a two-to-one margin that Trump’s policies were harming the economy rather than helping it. Fifty-six percent said the policies were hurting economic conditions, while 28% said they were helping.

Among Republicans, opinion was divided. Seventy percent of voters identifying with the “Make America Great Again” movement said Trump’s policies were benefiting the economy, compared with 30% of Republicans who do not identify with that group.

Disapproval ratings of the president’s handling of the economy were also high. The Fox News poll showed 66% of voters disapproving and 34% approving, matching a record low approval rating across both of Trump’s terms. The Marquette survey reported similar findings, with 68% disapproving of Trump’s economic management and 76% expressing disapproval of his handling of inflation and the cost of living.

The White House has defended its policies, arguing that tax cuts have increased household incomes. Trump said earlier this month that Republican tax measures had left Americans with more money in their pockets, including through a proposal to eliminate taxes on tips.

White House press secretary Karoline Leavitt also highlighted the administration’s tax policies, saying they had returned a “historic amount of money” to working families.

Rising pressure on household finances

Polls also show many Americans struggling with personal finances and rising living costs.

According to the Fox News survey, six in ten voters described their own financial situation as either “only fair” or “poor,” including 28% who said it was poor. Majorities of Democrats, independents and Republicans all expressed negative views about their finances.

The Marquette poll found that just 20% of Americans said they were financially better off than a year ago, a drop of eight points since January.

High prices appear to be a major concern. Eighty-two percent of respondents in the Marquette survey said grocery prices had risen in the past six months, while 93% said gasoline prices had increased. In January, only 21% reported higher gas prices.

Voters widely described several costs as major financial burdens, including groceries (62%), fuel (60%), healthcare (55%) and housing (52%).

A CNBC survey found many households adjusting their spending to cope with rising costs. Nearly eight in ten respondents said they had taken steps such as reducing spending on entertainment, cutting travel because of fuel costs, or limiting purchases.

More than half said they were travelling less, while around four in ten said they had reduced spending on essential items like groceries or medical care. About three in ten reported putting more purchases on credit cards.

War and labour market concerns

External factors are also shaping public sentiment.

The CNBC poll found 64% of voters said the war involving Iran was not worth the increase in gasoline prices associated with the conflict.

Americans are also increasingly pessimistic about the job market. Gallup reported that 63% of respondents believe it is a bad time to find a job, compared with 33% who said it is a good time. That level matches the worst readings since the COVID-19 pandemic.

Despite strong stock market performance, attitudes toward investing remain cautious. A narrow majority of Americans, 53%, said it would be a bad idea to invest $1,000 in the stock market at the moment.

The polls were conducted between early and mid-April among roughly 1,000 respondents each and carried margins of error of around three to four percentage points.

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Adapted by ASEAN Now. Source 27 April 2026