Americans’ Confidence In Economy Plummets To 17-Month Low, Poll Says

Americans’ confidence in the U.S. economy plummeted to a 17-month low in November, according to a Gallup survey released on Thursday.

Gallup’s Economic Confidence Index declined seven points to -30 in November, marking the lowest reading since -35 in July 2024. The survey also found that just 21% of respondents rated the current state of the U.S. economy as “excellent” or “good” in November, a slight decrease from 24% in October and the lowest percentage since March.

By comparison, 40% of those surveyed now described the current economic conditions in America as being “poor,” compared with 37% who said the same in October, according to the poll.

Less than three in 10 adults in the latest survey, or 27%, said they think the economy is improving — four percentage points below the October reading and the lowest number since July 2024 — Gallup reported. Meanwhile, roughly two-thirds of respondents — 68% — said they think the economy is worsening, the survey shows.

Additionally, American consumers now expect to spend an average of $778 on Christmas or other holiday gifts, down $229 from $1,007 in October, according to the Gallup survey. However, U.S. shoppers spent a record high $11.8 billion online during Black Friday sales this year, CBS News