Consumer Spending Update: Economic, Consumer Confidence Rebound to 2016 Election Levels
As more of the country exits the lockdown and the stock market climbs to pre-pandemic levels, economic confidence is on the rebound, jumping 16 points from last month to 109.8 in June. This finding is comparable to the level of confidence Americans held just prior to President Trump’s 2016 election.
Enthusiasm about the economy started to grow immediately following 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 June 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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