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Americans' confidence in the economy remains negative, and mentions of inflation as the top problem are holding at their highest point since 1984.
Amid high inflation, confidence in the U.S. economy has fallen back to a level last seen in April 2020, when nationwide shutdowns resulted in a recession.
Portending solid holiday retail sales, Americans expect to spend an average $886 on gifts this season, slightly more than a year ago. Most people didn't start shopping early, but when they do shop, it's likely to be online.
The amount Americans estimate they will spend on Christmas gifts this year roughly matches what they estimated last year around the same time, but it is still lower than before the pandemic.
Americans' confidence in the economy continues to weaken, and their mentions of economic issues as the nation's top problem are rising. Meanwhile, a record-high 74% now say it is a good time to find a quality job.
As America's economy emerges from the 2020 slump, the number of those describing now as a good time to find a job has more than doubled since January.
Americans' mentions of COVID-19 as the most important U.S. problem have fallen to the lowest point since the pandemic began, but government remains a top concern.
Americans' economic confidence has fallen back to levels seen early this year, as more sense the economy is getting worse.
Although Americans' economic confidence has slipped, the percentage satisfied with the way things are going in the U.S. remains elevated, at 36%.
For the first time since the coronavirus pandemic led to widespread business closures in the U.S., Gallup's Economic Confidence Index has registered a net positive reading.
Satisfaction with the direction of the U.S. improved again in March, to 32%. This is the second monthly increase Gallup has recorded after the measure fell to its lowest point in nearly a decade in January.
President Donald Trump's latest job approval rating (43%) is similar to his recent ratings. Americans' satisfaction with the state of the nation and their evaluations of the economy are weak but improved.
One year into the pandemic, Americans' views of the U.S. economy have recovered some ground but remain negative overall, and assessments of their personal financial situations are worse than before the disruptions from COVID-19.
Although Gallup's Economic Confidence Index remains in negative territory, it rose eight points to -13 in February, largely because of Democrats' increased confidence after Joe Biden's inauguration.
The percentage of Americans who say they are financially better off than they were a year ago is down 24 points from this time last year to 35%, the lowest reading since 2014.
Republicans' confidence in the economy and views of the job market worsened in January as their party was facing four years of a Democratic president.
The public's mood has soured since November as President Trump's job approval rating has fallen four points to 39%. However, Joe Biden's transition approval is 65%.
The Gallup Economic Confidence Index ticked up further this month to -1. While still anemic, it's the index's most positive level since the start of the pandemic.
Americans' estimate of the amount they will spend on gifts this holiday season is up slightly from October, portending an average year for holiday sales.
The prospect of a new stimulus payment increases the likelihood that Americans will spend as much as or more this holiday season than they did last year. This effect is greatest among those who believe COVID-19 is getting worse.