"By some surveys, public opinion on the economy is roughly as negative as at the height of Biden-era inflation or even the 2008 global financial crisis. It appears to reflect some underlying weakness in the economic forces that most directly affect Americans' well-being, which are not evident in big-picture economic data. Driving the news: The new Axios Vibes survey by the Harris Poll shows 65% of Americans see themselves as either sometimes or regularly financially squeezed each month, up from 58% in June 2024."
"It's true that sentiment, as measured by the Michigan survey, has proven more resilient among Republicans than among Democrats. Yes, but: Compared to February 2020, during Trump 1.0, both Republicans and Democrats are sharply more negative about the economy now. The Consumer Sentiment Index for Republicans in September was 33.5 points below February 2020, while for Democrats it was 39.1 points below."
The Axios Vibes survey by the Harris Poll finds 65% of Americans feel sometimes or regularly financially squeezed each month, up from 58% in June 2024. The University of Michigan Consumer Sentiment Index fell 21.4% year-over-year in September and is lower than any point during the 2008–2009 recession. The Conference Board's Consumer Confidence Index dropped to 94.2 in September, below the 98.7 recorded in June 2022. Partisan differences exist, with sentiment more resilient among Republicans, but both parties are markedly more negative than in February 2020. The Consumer Price Index rose 2.9% over the last year while pay growth has slowed.
Read at Axios
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