Nearly half of Americans now rate the economy as poor, Gallup found in its April poll, as the US-Israel war on Iran pushes fuel prices higher and confidence in the job market and financial markets falls to pandemic-era lows.
The poll of 1,001 adults, conducted April 1–15, found 47% of respondents rating current economic conditions as “poor” — up from 40% in March, a 7-point jump in a single month. Only 21% rated conditions as “excellent” or “good,” and 73% said the economy is getting worse, also up 7 points from March.
Gallup conducted the poll as the US-Israel war on Iran, which began February 28, disrupted Strait of Hormuz shipping and sent global oil prices and domestic fuel costs higher.
Sixty-three percent of Americans said it was a bad time to find a quality job, compared to 33% who said it was a good time — tying the worst reading since the COVID-19 pandemic. Stock market pessimism also deepened: 53% said investing in the stock market would be a bad idea, compared to 43% who said it would be a good idea.
Sponsored · Selkirk Copper Mines
A Fox News poll conducted April 17–20 found 70% of registered voters saying the economy was getting worse — up 15 points from last April and matching a record high set in 2023. 41% rated the economy poorly, still far above the roughly quarter of voters who said the same a year ago.
When Gallup asked Americans to name the nation’s most important problem, economic concerns dominated: 13% cited the economy in general terms, 11% cited inflation and the high cost of living, and 3% cited gas prices. 8% named the war in the Middle East directly.
Gallup’s Economic Confidence Index has a theoretical range of -100 to +100 — the all-time high was +56 in January 2000; the record low was -72 in October 2008, at the depths of the financial crisis. April’s reading does not yet approach those extremes, but the speed of deterioration — 7 points in a single month — signals that the Iran war’s economic toll is registering rapidly in public opinion.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
