More Adults Say the Economy Is Getting Worse, 61% Against 57% in September

Views of personal finances moved the same way. Forty-three percent (43%) say their own finances are getting worse, up from 39%, while 16% say they are getting better, down from 19%. Thirty-two percent (32%) rate their personal finances excellent or good, compared with 36% in September, and 65% rate them fair or poor, up from 61%. The rating of the national economy itself was little changed, with 27% calling it excellent or good in both surveys, though the share calling it poor is 43%, up from 40%.

The shift is concentrated among independents and Republicans. Independents saying the economy is getting worse rose from 53% to 65%, and the share rating the economy fair or poor rose from 65% to 80%, including 51% who call it poor, up from 40%. Among Republicans, 44% now say the economy is getting worse, up from 38%, and 24% say it is getting better, down from 30%. Democrats, who were already the most negative, were little changed at 76% in September and 78% now. Voters' 2024 choices show the same split: 42% of Trump voters say the economy is getting worse, up from 36%, while Harris voters are at 79%, compared with 78% before.

Personal finances follow a similar pattern by party. Republicans rating their finances excellent or good fell from 50% to 41%, and those saying their finances are getting worse rose from 26% to 33%. Among Trump voters, the share saying their finances are getting worse is 32%, up from 24%. Democrats were steady, with 27% rating their finances excellent or good in September and 28% now.

Adults in the middle of the Trump approval scale moved the most. Of those who somewhat disapprove of his job performance, 85% now rate the economy fair or poor, up from 71%, and 54% say their own finances are getting worse, up from 41%. Among those who somewhat approve, 52% say the economy is getting worse, up from 44%. Strong approvers remain the most positive group but also slipped, with 46% saying conditions are getting better, down from 53%. Those who strongly disapprove were nearly unchanged, at 84% in September and 86% now saying the economy is getting worse.

Among generations, Gen Z moved the most. In September, Gen Z was the generation least likely to say children will have a worse standard of living than their parents, at 46%. It is now at 57%, tied with Baby Boomers (59% in September) as the most pessimistic generation, while Millennials are the least, at 50%. Gen Z adults rating their own finances excellent or good fell from 44% to 37%, and those saying their finances are getting worse rose from 31% to 40%. Gen X is at 64% saying the economy is getting worse, up from 58%, while Millennials (57% to 60%) and Baby Boomers (61% to 64%) moved less.

Black adults rating their own finances excellent or good fell from 39% to 24%, and the share rating the economy poor rose from 38% to 49%. The share who say the economy works mainly for average working people dropped from 23% to 11%, and 52% now say children will be worse off than their parents, compared with 42% in September. By household income, the decline was largest in the $35,000 to $65,000 range, where adults rating their finances excellent or good fell from 37% to 25% and those saying the economy is getting better fell from 21% to 14%. Households earning $65,000 to $100,000 moved the other way on the economy rating, with 33% now calling it excellent or good, up from 24%. Adults who are unemployed and looking for work also moved down: 5% say the economy is getting better, compared with 17% before, and 12% rate their finances excellent or good, compared with 24%.

Women moved further than men. Women saying the economy is getting worse rose from 60% to 65% and those saying their finances are getting worse from 42% to 47%, compared with 55% to 57% and 37% to 39% for men.

The broader measures of how the economic system works did not change. Fifty-four percent (54%) of Adults say children growing up today will have a worse standard of living than their parents, against 53% in September, while 16% say better, compared with 17%, and 17% say about the same, compared with 19%. Sixty-three percent (63%) say the economy works mainly for the wealthy and well-connected, against 64%, while 12% say mainly for average working people and 15% say fairly for everyone. Trust in the government in Washington is also unchanged, with 26% trusting it just about always or most of the time and 68% only some of the time or never, though independents are an exception: 77% of them say only some of the time or never, up from 64%.

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