Consumer Spending Update: Economic Confidence Continues Post-Election Decline
The Rasmussen Reports Economic Index dropped by three points this month, the second consecutive monthly decline since Joe Biden was elected President. The index fell to 111.5 from 114.5 in December, continuing the decline from 126.4 just before Election Day, amid a climate of public concern about new lockdowns to fight the COVID-19 pandemic.
Enthusiasm about the economy started to grow immediately following Donald Trump’s election as president in November 2016 and had jumped to 147.8 by January 2020. Then it began its steep decline last February as the coronavirus lockdown threw Americans out of work and closed many businesses. Enthusiasm started working its way up again last summer and fall, but the past two months mark a significant drop. By comparison, 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 January 4-5, 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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