December 17, 2024
Two-thirds of the public describe the national economy as poor and only 5% consider it to be very good. This is in line with the public’s view in recent years. The last time the majority of the public described the economy as good in AP-NORC polls was January 2020.
Only 16% of Republicans are positive about the economy, but 69% are optimistic that it will improve in 2025 after Donald Trump takes office. Since the election, Democrats have become more negative about the economy and are pessimistic about its performance in 2025. In October, 61% of Democrats described the national economy as good. Now only 51% feel the same. Six in 10 Democrats expect the economy to worsen during the coming year.
Overall, just a third of the public feel the nation’s economy is in good shape. There are partisan divisions in how the public views the current economy. Democrats (51%) are more likely than both Republicans (16%) or independents (22%) to describe the economy as good.
Income level is also a significant factor in how individuals view the national economy. Households with incomes less than $50,000 a year are more likely to view the economy as poor, although even in more affluent households, a majority see the economy as in bad shape.
Looking to the future, the public is not optimistic about economic improvement. Only 38% say 2025 will be a better year for the economy. A quarter think there won’t be much change from current conditions and one third feel it will get worse in 2025.
Opinion on the economy’s improvement in the next year is highly partisan. It is typical to see partisans become more optimistic when their party controls the White House. Seven in 10 Republicans say the economy will be better in 2025 than it was in 2024 compared with only 1 in 10 Democrats.
Along with overarching negativity toward the national economy, when asked about personal financial concerns at least 3 in 10 adults are very or extremely concerned about their ability to afford groceries, gas, or electricity. Amid the holiday season, 31% of adults are concerned about their ability to afford holiday gifts.
The nationwide poll was conducted December 5-9, 2024 using the AmeriSpeak® Panel, the probability-based panel of NORC at the University of Chicago. Online and telephone interviews using landlines and cell phones were conducted with 1,251 adults. The overall margin of sampling error is +/- 3.7 percentage points.
- Suggested Citation: AP-NORC Center for Public Affairs Research. “Negativity about the national economy persists, but Republicans are optimistic about improvements in 2025” (December 2024). https://apnorc.org/projects/negativity-about-the-national-economy-persists-but-republicans-are-optimistic-about-improvements-in-2025/
