Poll: Views of economy stabilize as election nears

Most Americans view the nation’s economic situation as bleak, but a rising percentage also see signs of stability six weeks before Election Day — if not reasons for optimism.

According to a new poll from The Associated Press-NORC

Center for Public Affairs Research, 60 percent of Americans describe the national economy as poor and 40 percent deem it good. That’s a rebound in confidence from low points in April and May, when just 29 percent called the economy good as the coronavirus pandemic took hold of the country.

About 4 in 10 Americans — 43 percent — say they expect the economy to improve in the next year, about the same as in July. But just 28 percent said they expect things to get even worse, a slight improvement from the 35 percent who said so in July and a significant improvement from May, when 40 percent expected things to continue getting worse. This month, 27 percent expect no change in economic conditions in the next year.

That relative hopefulness may say more about the nation’s politics than the underlying health of the world’s largest economy.

The poll found that 67 percent of Republicans call the economy good, compared with 16 percent of Democrats. Republicans are significantly more likely to expect the economy to get better than worse in the next year, 64 percent to 14 percent. Among Democrats, 39 percent expect things to get worse and 28 percent expect them to get better, while 32 percent expect no change.