CNBC poll shows 61% of Americans pessimistic on the economy as consumer spending pulls back

News Editor

2026-07-17 12:36:05

A new CNBC poll found that public sentiment on the U.S. economy has deteriorated, with 61% of respondents saying they feel pessimistic about current conditions and the outlook ahead. That marks the highest reading since December 2023, while only about one-quarter of those surveyed said they were optimistic. The poll also showed broad dissatisfaction with President Donald Trump’s handling of economic issues, with 60% disapproving and 38% approving, one of the weakest readings of his political career on that measure. The survey pointed to mounting pressure on household budgets as living costs continue to rise. Forty-seven percent of respondents said they are cutting back on essential purchases such as food and healthcare, up 6 percentage points from April, and roughly two-thirds said they are reducing discretionary spending such as dining out. Separate research by Bain & Company and NielsenIQ showed U.S. grocery purchase volume fell 1.8% year over year in June, a sharp reversal from 0.1% growth a year earlier. The findings add to signs of weaker consumer confidence and tighter spending behavior.

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A new CNBC poll found that Americans have grown more pessimistic about the economy, with 61% of respondents saying they feel negative about current conditions and the direction ahead. That is the highest level since December 2023. Only about one-quarter of those surveyed said they were optimistic.

The poll showed that most respondents blame economic pressure on President Donald Trump’s economic policies. On Trump’s handling of the economy, 60% said they disapprove and 38% said they approve, one of the lowest readings of his political career on that measure.

Voter sentiment weakens ahead of the midterm cycle

Micah Roberts, a partner at Public Opinion Strategies, said overall voter sentiment is subdued. The share expecting conditions to worsen, at 41%, was higher than the 29% who said things would improve. He said market confidence is moving into a low point ahead of the midterm election cycle.

Rising living costs push households to cut spending

Higher living costs are also forcing consumers to pull back. The poll found that 47% of respondents said they are reducing purchases of essentials such as food and healthcare, up 6 percentage points from April. Roughly two-thirds said they are cutting non-essential spending such as dining out.

Separate research conducted by Bain & Company and NielsenIQ showed U.S. grocery purchase volume fell 1.8% year over year in June, a marked weakening from 0.1% growth in the same period last year.

Kurt Grichel, head of Bain’s U.S. retail business, said a routine shopping trip that cost about $300 in 2019 may now cost $400. He said the price shock is spreading across more groups, including higher-income consumers.

The report said high food prices, elevated fuel costs and cuts to parts of social welfare spending by the Trump administration are adding to consumer strain. It also found that four in five U.S. consumers are trying to spend less, more than one-quarter are deliberately cutting food spending, more than half are switching to cheaper brands, and 49% are buying fewer items.

The item cited ibtimes as the source.

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