America’s confidence in the economy has fallen dramatically on the back of the coronavirus chaos, according to a new Gallup poll.
The Gallup Economic Confidence Index now stands at minus-32 down from plus-22 in March a 54-pt decliner.
The drop marks the largest 1-month change in Gallup’s trend dating back to Y 1992.
The confidence index is the average of 2 components: Americans’ rating of current economic conditions and opinions of whether the economy is improving or getting worse.
In January, Gallup had found Americans had more confidence in the economy than at any point since Y 2000. At the time, the Gallup index stood at plus-40.
In this current poll, Republicans showed the steepest decline in confidence. Gallup noted that Republicans’ index score has dropped 72 pts from plus-77 to plus-5. Independents showed a drop of 50 pts from plus-12 to minus-38. and Democrats showed a 37 pt decline from minus-21 to minus-58.
The poll, conducted 1-14 April, surveyed 1,017 adults. The margin of error is plus or minus 4 percentage pts.
Have a healthy day, Keep the Faith!