Just 16% of Americans Rate "the economy" as excellent or good, and nearly half describing it as poor, according to Gallup

Absolutely incredible,” commented Kobeissi Letter. “Over the last six years, the S&P 500 has risen +130% while US Consumer Sentiment has collapsed by -55%, to its lowest since data began in 1952. We are witnessing the formation of the biggest wealth divide in modern history.”

Kobeissi Letter produced the graphic one day after the University of Michigan’s latest survey found consumer sentiment hitting the lowest level on record.

Joanne Hsu, director of the survey, observed that “the cost of living continues to be a first-order concern, with 57% of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50% last month.”

On the same day, Gallup published new data showing that Americans’ economic confidence has fallen to its lowest level since October 2022, with just 16% of Americans rating the economy as excellent or good, and nearly half describing it as poor. [MORE]