A new Gallup survey showed that the U.S. Economic Confidence Index fell to -45 in May, marking its lowest level since October 2022.
According to the data, 76% of Americans believe economic conditions are getting worse, while only 20% say the economy is improving, highlighting growing concerns over inflation, rising living costs, and financial market volatility.
The decline in sentiment comes despite a relatively resilient labor market, reflecting increasing uncertainty among consumers regarding the outlook for the U.S. economy, monetary policy, and future interest rate conditions.