Consumer Spending Update: Americans Question Economy But Still Have Faith in Their Own Wallets
As parts of the country slowly emerge from coronavirus lockdown, economic confidence has slowed from April’s rapid descent, dropping just one point to 93.7 in May. But this is the lowest finding in six years of surveying and six points below the April 2014 baseline.
Enthusiasm about the economy started to grow immediately following Donald Trump's election as president in November 2016 and jumped to 147.8 in January 2020 and then began its decline in February. In President Obama’s final years in office, this index reached a high of 121.5 in January 2015 and was at 108.1 his last month in the White House.
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The survey of 1,500 American Adults was conducted on May 1, 2020 by Rasmussen Reports. The margin of sampling error is +/- 2.5 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
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