Nearly 66 percent of Americans feel that the current economic state is okay, although it’s a decline from May’s figures. This is the first noteworthy drop in the public opinion of the economy since Donald Trump was elected as President, according to a CNN poll done by Social Science Research Solutions (SSRS).
Numerous economic indicators have started to reveal warning signs of a potentially impending recession, which has caused some instability in the public’s perceptions and predictions of the U.S economy’s condition. However, the majority of the public’s outlook is still positive.
The almost two-thirds of Americans who believe the economic situation is adequate represents a decline of five points from the May CNN/SSRS poll. The general approval of Trump has dwindled somewhat. Around 40 percent of American’s agree with the President’s moves, which is a 3 percent decline from June.
Public expectations of the economy’s future
More than half (56 percent) of Americans assume that the state of the economy will still be good in a years time. This is a 10 percent drop from December when 66 percent were expecting decent economic conditions in a year.
50 percent of Americans believe that the economy is currently doing fine and will remain adequate in a year from now, while 26 percent say that the conditions are bad now and will still be bad in a year. 13 percent believe that the economy is currently going okay, but in a year from now it will be poor, and 6 percent feel that conditions aren’t doing well at the moment, but they’ll get better by next year.
However, such changes in opinion on the economy don’t correlate with perceptions of Trump. 50 percent of Americans concur with the way Trump is managing the economy, a figure which hasn’t fluctuated much over the last few months. Nearly 90 percent of Republicans, around 50 percent of independents, and about 18 percent of Democrats approve of Trump’s tactics.
Despite this, the President’s approval when it comes to the managing of foreign affairs sits at 40 percent, approval on how he’s handling immigration stands at 37 percent, and he only has a 32 percent approval in regards to race relations.