Majority of Americans pessimistic about their personal finances, Gallup poll finds

Show Caption

American economic sentiment fell in a recent Gallup survey, with some metrics faltering significantly.

The survey, published April 21, found that 53% of Americans believe that their personal financial situation is getting worse.

The survey was taken from April 1 to April 14, meaning the majority of it was completed after President Donald Trump announced his sweeping tariff regime on April 2.

Equity and bond markets have whipsawed in the wake of what Trump called “Liberation Day” and the chaotic implementation of the tariffs.

“Public attitudes about several specific aspects of the U.S. economy have changed markedly in the short time Trump has been in office,” Lydia Saad, Director of U.S. Social Research for the pollster wrote. “Americans’ expectations for the stock market, economic growth and employment have turned negative and consumers are feeling unusually pessimistic about their personal finances.”

Here’s what Gallup found about the economic mood of the country.

Americans pessimistic about financial situation at record levels, survey finds

The finding that a majority of respondents feel their financial situation is getting worse is the highest number since Gallup started tracking the statistic in 2001.

It is the first time the survey found more than 50% of respondents felt their situation getting worse, with the statistic hitting 49% in April of 2008 and 50% in April of 2020 and 2023.

Gallup found that 38% of respondents felt that their financial situation was getting better, a fall from the 43% who said the same last year. The lowest measure of the number came in October of 2011, when only 29% of respondents said their situation was getting better.

Poorer respondents were more likely to say that their financial situation is getting worse, with 63% of respondents who agreed with the statement reporting that they made less than $50,000 annually. However, the increase in those saying they are worse off from the 2024 survey was approximately equal across the range of income levels.

Results also fell along partisan lines, with 76% of Democrats and 54% of independents saying their situation is getting worse. Last year, 68% of Republicans said their situation was getting worse. Only 28% of Republicans said the same this year.

Americans’ faith in stock market growth plummets

The survey also found that a majority of respondents believe that the stock market will go down, a sharp reversal of what was found in a January version of the survey.

Gallup said that 58% of respondents think that the market would “go down a lot/a little” compared to 61% of respondents who said that the market would go “go up a lot/a little.”

Respondents’ views on inflation also swung since the January survey, with 63% of respondents in the April survey saying they believe that inflation will “go up a lot/a little” − an 11% rise.

The percentage of respondents expecting unemployment to rise made a similar jump as Gallup found that 47% of said they see joblessness increasing.