A plurality of Americans remain pessimistic about the future of the economy, predicting it will be “weaker” one year from now, a Rasmussen Reports survey released Monday found.
The survey asked respondents, “A year from today, will the U.S. economy be stronger than it is now, or weaker?”
A plurality of Americans, 47 percent, said the economy will be “weaker,” compared to 29 percent who said “stronger,” 15 percent who said “about the same,” and 9 percent who remain unsure.
Democrats are the exception, as 48 percent believe the economy will be “stronger” one year from now, compared to 26 percent who say “weaker.” A majority of Republicans, 71 percent, and a plurality of independents, 47 percent, believe the economy will be “weaker.”
Views about the economy and the stock market are generally correlated. Among Americans who believe the economy will be strong a year from now, 65% expect the stock market to be higher. Similarly, among those who expect the economy to be weaker in a year, 85% think the stock market will be lower.Older Americans are more likely than those under 40 to believe the economy will be weaker a year from now.
Black Americans (36%) are more likely than whites (30%) or other minorities (24%) to expect the economy will be stronger a year from now.
The survey, taken September 13-14, among 1,000 U.S. adults, has a margin of error of +/- 3 percent.
The economy long stood as one of former President Trump’s strong suits throughout his presidency. President Biden’s approval ratings, however, have been tanking overall and on a host of key issues, including the economy. An Economist/YouGov poll released this month found Biden’s approval on the economy under water — 40 approving and 47 percent disapproving.
“Only 16% of American adults now think the economy is improving, while nearly three times as many, 44%, say it is getting worse,” the survey found.