Rising prices fuel Americans' inflation concerns and spending cuts
Inflation concerns and high gas prices are prompting Americans to reduce discretionary spending significantly.
Event / Economy
US Economic Sentiment April 2026
Multiple polls in April 2026 reveal significant economic pessimism among American voters, with majorities reporting poor economic conditions, worsening outlook, and concerns about inflation and gas prices. The Gallup Economic Confidence Index fell to -38, the lowest since November 2023.
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2026-08-18 to 2026-11-15 · UTC publication dates
Coverage begins 26 Apr, 01:36 UTC
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What happened
Majority of voters blame Trump policies for harming the economy
A Fox News poll found that by a 2-to-1 margin, voters said Trump's policies were hurting the economy (56%) rather than helping it (28%). Additionally, 66% of voters disapproved of how Trump is handling the economy while 34% approved, marking a record low approval rating and record high disapproval rating over both of Trump's terms.
93% of Americans report significant increases in gas prices
A Marquette Law School poll found that 93% of Americans said gas prices had gone up over the last six months, a dramatic increase from just 21% who reported the same in January 2026. Additionally, 82% said grocery prices had gone up over the same period. A Fox News poll found that 60% of voters identified gas prices as a major problem for their families.
Americans reducing spending on entertainment and travel due to high costs
A CNBC All-America Economic Survey conducted April 15-19, 2026 found that nearly 8 in 10 voters reported taking at least one cost-cutting measure. About 6 in 10 said they were spending less on out-of-home entertainment and just over half said they were traveling less because of high costs of gas and food. Approximately 4 in 10 said they were spending less on essential items like groceries and medical care, and about 3 in 10 said they were putting more purchases on credit cards. The survey had 1,000 respondents with a margin of error of +/- 3.1 percentage points.
Gallup poll shows 47% of Americans rate economic conditions as poor
A Gallup poll conducted April 1-15, 2026 found that 47% of Americans said current economic conditions are poor, up 7 percentage points from March 2026. Additionally, 73% said the economy is getting worse, also up 7 points from the previous month. The poll surveyed 1,001 U.S. adults with a margin of error of +/- 4 percentage points.
Gallup Economic Confidence Index drops to lowest level since November 2023
The Gallup Economic Confidence Index dropped 11 points from March to April 2026, falling from -27 to -38, marking the lowest rating since November 2023. The index measures economic conditions on a scale ranging from -100 (poor) to +100 (good). Economic confidence declined among all partisan groups, with Republicans experiencing a 15-point drop, larger than declines among Democrats or independents.
Fox News poll finds 70% of voters believe economy is worsening
A Fox News poll conducted April 17-20, 2026 found that 70% of registered voters said they felt the economy was getting worse, up 15 points from the same period in April 2025 and matching a record high set in 2023. The poll surveyed 1,001 registered voters with a margin of error of +/- 3 percentage points.
64% of voters say Iran war not worth increased gas prices
A CNBC All-America Economic Survey found that 64% of voters said the war in Iran was not worth the increase in gas prices, indicating public concern about the conflict's economic impact.
63% of Americans say it is a bad time to find a job
A Gallup poll found that 63% of Americans said it was a bad time to find a job, while 33% said it was a good time. This represents a slight deterioration from January 2026 when 38% said it was a good time, and ties the worst rating since the COVID-19 pandemic.
62% of Americans say Trump policies will increase inflation
A Marquette Law School poll found that 62% of Americans said Trump's policies would increase inflation, up significantly from 45% who said the same at the end of 2025. The poll also found that 70% of Americans expect inflation to increase over the next 12 months, up 9 points from January 2026. The survey was conducted April 8-16 among 982 U.S. adults with a margin of error of +/- 3.4 percentage points.
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2 alternative perspectives
Consumer sentiment plummets to lowest levels in 17 months
Consumer sentiment has collapsed to 17-month lows, with majorities reporting poor conditions and economic decline.