A recent survey conducted by Gallup has found that Americans are the most optimistic they have been in seven years about several key economic indicators. Majorities of Americans expect both economic growth and the stock market to increase this year, while 41% predict interest rates will fall, exceeding those who think they will rise. On unemployment, Americans are divided, with 38% expecting it to decrease and another 38% anticipating an increase.
Notably, a slim majority of 52% expect inflation to rise, which is down from recent years. Republicans are most optimistic about the economy’s outlook, with three-quarters of them believing economic growth will increase and six in ten predicting interest rates will fall. Independents also share this optimism, but to a lesser extent.
In contrast, Democrats are less confident, with only 51% expecting the stock market to increase and one in five anticipating economic growth. A majority of Democrats expect inflation to rise, likely due to President Trump’s pledge to impose tariffs on U.S. imports. However, the gap between Republicans’ expectations for improvement and those of other party groups has narrowed.
The survey also shows that Americans are more optimistic about the economy now than they were in 2019, during Trump’s first term. This optimism may stem from their confidence in Trump’s ability to handle the economy, as he received high issue approval ratings on the economic issue during his first term.
Source: https://news.gallup.com/poll/655877/americans-offer-upbeat-outlook-key-economic-factors.aspx