Gallup Index Sinks to -45 as Only 16% of Americans Rate Economy Good
Updated
Updated · The Washington Post · May 22
Gallup Index Sinks to -45 as Only 16% of Americans Rate Economy Good
6 articles · Updated · The Washington Post · May 22
Gallup’s economic confidence index fell to -45, its lowest since 2022, while just 16% of U.S. adults called the economy excellent or good and 49% said it was poor.
Three in four Americans said conditions are getting worse as the Iran war pushed inflation and gasoline higher; average gas prices reached about $4.56 a gallon, up from $2.90 in February.
Republicans remained more upbeat than other groups, but their confidence in May still dropped to its lowest level since Trump returned to office, signaling erosion within his own base.
The slide adds pressure before the November midterms, with Americans increasingly citing gas prices, inflation and government as top problems and Trump’s approval averaging 36% this month.
As the Iran conflict chokes global oil supply, what happens to family budgets if gas prices continue to climb through winter?
China's truce on critical mineral exports expires in November. How will this impact the price of American cars and electronics?
May 2026 Economic Confidence Report: Inflation, Tariff Impacts, and Widening Inequality in the U.S.
Overview
As of May 2026, American economic confidence is shaped by a mix of resilient hard data—like strong employment and corporate earnings—and weak consumer sentiment, which is weighed down by persistent inflation and high Treasury yields. This creates a challenging environment, especially for high-valuation U.S. stocks under pressure. The University of Michigan's surveys show that while inflation expectations have dipped slightly, consumers remain cautious. Overall, the interplay between solid economic fundamentals and ongoing concerns about rising prices and borrowing costs leads to a divided and uncertain outlook for the U.S. economy.