Americans’ outlook on the current state of the economy has become a bit more pessimistic since last month, according to a new poll released Thursday.
The new CBS News/YouGov survey found that nearly three-in-10 respondents, 29 percent, said they expect the economy to be growing next year, a 5-point decline from February. The number of Americans who think the economy will be in a recession in 2025 went up five points, going from 23 percent in February to 28 percent this month. Approximately 21 percent of respondents, the same number as last month, said the economy would be slowing in 2025.
Around 57 percent of those earning under $50,000 said their financial situation is “bad,” while 39 percent argued it is “good,” the poll found. Among those bringing in between $50,000 and $100,000 annually, 61 percent stated that their financial situation is good, however, 35 percent said it was bad.
Just a third of Americans, 33 percent, said the economy is good right now, the same number as last month. Around 60 percent of respondents said the economy is in a bad condition, a figure that has stayed the same since February, according to the survey.
The majority of U.S. adults, 76 percent, argued that their income is not keeping up with inflation, while just under a quarter, 24 percent, said the opposite, according to the poll. Some 70 percent of respondents are also anxious about retirement savings, whereas 30 percent said they are “secure.”
Despite around half of Americans arguing that the economy is worsening, President Trump’s approval rating has gone up during his second term with the backing of Republican Party voters, particularly men, and it is now at 46 percent, according to a new poll from Gallup.
An NBC News survey, released earlier this month, found that just 18 percent of Americans said the economy is either “excellent” or “good.”
The CBS News/YouGov poll was conducted from March 24-26 among 2,351 respondents. The margin of error was 2.5 points.