Consumer Spending Update: Economic Confidence Falls Following Election
The Rasmussen Reports Economic Index has dropped 12 points from 126.4 just before Election Day to 114.5, reversing the fall rebound from the coronavirus lockdown that began in March. Many states in recent days have begun reimposing lockdown restrictions with the new surge in COVID-19 cases.
Enthusiasm about the economy started to grow immediately following Donald Trump's election as president in November 2016 and had jumped to 147.8 by January 2020. Then it began its steep decline this February as the coronavirus lockdown threw Americans out of work and closed many businesses. Enthusiasm started working its way up again in recent months, but this month marks a significant drop. By comparison, in President Obama’s final years in office, this index reached a high of 121.5 in January 2015 and was at 108.1 his last month in the White House.
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