Consumer Spending Update: Economic Confidence Continues to Emerge from Its COVID Slump
With more of the country moving through their COVID-19 reopening phases, confidence in the economy continues its upswing, with the Rasmussen Reports Economic Index rising another five points from June to 114.9.
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 in February as the coronavirus lockdown threw Americans out of work and closed many businesses. 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 July 1-2, 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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