75% think economy is bad: Survey

Majority of Americans Believe Economy is in Poor Condition, Poll Shows

A new poll conducted by the Associated Press-NORC Center for Public Affairs Research has found that 76% of Americans believe the country’s economy is in poor condition. This is a significant increase from April, when only 30% of respondents held this view. Only 24% of those surveyed indicated that the economy was in good shape.

Political Divide

The poll also found that views on the economy differed significantly by political affiliation. While 41% of Democrats believed the economy was in good condition, only 7% of Republicans held this view. Overall, only 21% of adults felt that the country was moving in the right direction, with 36% of Democrats and 7% of Republicans sharing this sentiment.

Biden’s Approval Rating

President Joe Biden’s overall approval rating was 40%, with 75% of Democrats approving of his performance compared to just 5% of Republicans. On the economy, Biden’s approval rating was 33%, with 66% disapproving. Among Democrats, 61% approved of his handling of the economy, while only 6% of Republicans approved.

Economic Concerns

While recent economic news has been positive, with unemployment at its lowest rate since 1969 and inflation cooling to 4.9% for the year ending in April, concerns remain. Inflation remains at elevated levels, and there are lingering concerns about the banking sector. A recent poll found that faith in major financial institutions and banks had dropped to just 11%.

The survey was conducted from May 11 to May 15 among 1,680 adults, with a margin of error of plus or minus 3.4 percentage points.