Poll: Just 4 Percent Say U.S. Economy Is in ‘Excellent’ Shape

A man shops at a supermarket on Wednesday, July 27, 2022, in New York. The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. (AP Photo/Andres Kudacki)
AP Photo/Andres Kudacki

Just four percent of Americans say the U.S. economy is in “excellent” shape, a recent poll from The Economist/YouGov found.

The survey asked respondents, “How would you describe the current state of the American economy?”

Just four percent, overall, describe the current state of the economy as “excellent,” and just 13 percent say it is “good.” 

The vast majority have a more negative view of the current economic state of affairs, as a majority, 51 percent, view the current state of the economy as “poor.” Over a quarter, 28 percent, describe it as “fair.” 

A majority of both independents and Republicans, 54 percent and 73 percent, respectively, consider the state of the economy to be “poor.”  While a plurality of Democrats, 41 percent, describe it as “fair,” another 27 percent agree that it is “poor” as well. Just seven percent of Democrats consider the economy to be in “excellent” condition. Perhaps what is more, only five percent of Biden 2020 voters consider the economy to be “excellent.” 

Further, three-quarters of Americans say the economy is “getting worse” — a sentiment held by 82 percent of Republicans, 59 percent of independents, and 34 percent of Democrats. 

The survey, taken July 23-26, 2022, among 1,500 U.S. adults, coincides with Thursday’s dire economic report, showing the U.S. economy contracting for the second quarter in the row — something many use as the marker for a recession, despite the Biden administration’s desperate attempts to avoid the term.

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