Consumer Spending Update: Economic Confidence Down in January
Economic confidence fell to 97.3 in this month’s Rasmussen Reports Economic Index, nearly two points lower than December. January’s decline follows two consecutive months of gains since hitting 96.6 in October, which was the lowest index since May 2020.
Enthusiasm about the economy surged under former President Donald Trump, reaching as high as 147.8 in January 2020 before tumbling after the coronavirus lockdown threw Americans out of work and closed many businesses. By November 2020, it had recovered to 126.4, but dropped sharply in the three months after President Joe Biden was elected. The index fell to 97.8 in February 2021 before beginning a three-month rebound that took the index to 123.7 in May, followed by a five-month streak of declines.
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The survey of 1,500 American Adults was conducted December 31, 2021 by Rasmussen Reports. The margin of sampling error is +/- 2.5 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
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