Consumer Spending Update: Economic Confidence Hits New Low in October
Economic confidence fell to 96.6 in this month’s Rasmussen Reports Economic Index, down more than seven points from September, the fifth consecutive monthly decline. This is the lowest index level since May 2020.
Enthusiasm about the economy surged under former President Donald Trump, reaching as high as 147.8 in January 2020 before tumbling after the coronavirus lockdown threw Americans out of work and closed many businesses. By November, it had recovered to 126.4, but dropped sharply in the three months after President Joe Biden was elected. The index fell to 97.8 in February before beginning a three-month rebound that took the index to 123.7 in May, but has declined again the past five months.
Please sign up for the Rasmussen Reports daily e-mail update (it’s free) or follow us on Facebook. Let us keep you up to date with the latest public opinion news.
The survey of 1,500 American Adults was conducted October 1-3, 2021 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.
Want to read more?
Become a Rasmussen Reader to read the article
Have an account?Log In
Become a ReaderSubscribe
Rasmussen Reports is a media company specializing in the collection, publication and distribution of public opinion information.
We conduct public opinion polls on a variety of topics to inform our audience on events in the news and other topics of interest. To ensure editorial control and independence, we pay for the polls ourselves and generate revenue through the sale of subscriptions, sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics provides the content to update the Rasmussen Reports web site many times each day. If it's in the news, it's in our polls. Additionally, the data drives a daily update newsletter and various media outlets across the country.
Some information, including the Rasmussen Reports daily Presidential Tracking Poll and commentaries are available for free to the general public. Subscriptions are available for $4.95 a month or 34.95 a year that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections, consumer confidence, and issues that affect us all. For those who are really into the numbers, Platinum Members can review demographic crosstabs and a full history of our data.
To learn more about our methodology, click here.