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What you need to know
- Gallup conducted a recent poll that showed a majority in the United States believe inflation will slow down, and jobs are likely to improve by 2025.
- More than half of respondents said that they do not expect the coming year to bring economic prosperity.
- There were clear divisions along political lines. Republicans were optimistic about Donald Trump’s upcoming presidency, while Democrats expressed concerns, and Independents had mixed opinions on the economy.
A recent survey found that Americans remain optimistic regarding the economy, the stock market and employment in the year ahead, but are not convinced of the nearness of economic prosperity.
A recent Gallup study found that 66% of respondents expect the stock markets to increase by 2025. Meanwhile, 54% think the same year will see full employment, or even an increase, as a result. In a smaller majority, 52% of respondents believe prices will increase at a reasonable rate in 2025, even though inflation fell slightly in 2024. However it remained higher than the Federal Reserve target of 2%.
The poll revealed that, despite this positive outlook, a majority (56%) of Americans do not expect 2025 will be an economically prosperous year.
The 62% who responded to the survey are worried about an increase in federal budget deficit, and half expect taxes to rise this year.
Political Perceptions Differ from Economic Perceptions
The survey showed that politics influences people's views of the economy. Republicans were more optimistic than Democrats and political independents. 78% of Republicans predicted economic growth this year. Only 40% of Democrats and 15% of independents shared the same optimism.
Optimistic about Donald Trump’s reelection, more than 80% of Republicans said that taxes will fall, employment will increase, inflation will cool, and the stock market will rise in the coming year.
“Trump’s victory in November has energized Republicans and has undoubtedly contributed to their broadly positive expectations for the year ahead,” Gallup’s report stated that. “Across the 13 dimensions, Republicans’ positive predictions are 30 to 79 percentage points higher than they were two years ago, while Democrats’ are between five and 59 points lower.”
The independents have only positive views on the future economy, but they are negative about stock and employment markets.
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