People Are More Pessimistic About The Economy Now Than At Any Point In The Past 8 Years

Americans are more pessimistic about the immediate future of the economy now than at any point in the past eight years, according to a new poll from the Pew Research centre.

Only 25 per cent of respondents said that they expected the economy to get better within the next year, according to the poll. On the other hand, 32 per cent said they expected things to get worse over the next year. That’s a big shift from last year, when Pew found that 44 per cent of respondents were optimistic about the next year and just 14 per cent were pessimistic. 

40-one per cent said they thought the economy would remain the same over the next year. 

Here’s a chart looking at the trend:

Pew Research poll economy Obama

As a result, President Barack Obama’s job approval took a significant hit from February and sank down to 47 per cent. Overall, his approval rating has fallen 8 points from a high of 55 per cent in December. 

Despite that, more voters still trust Obama to handle the federal budget than Congressional Republicans — 53 per cent of respondents said they had at least a “fair” amount of confidence in him, compared with just 39 per cent that said the same of Republicans.

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