(The Center Square) – With the presidential election passed, American’s confidence in the economy has been improving, with increased optimism and a slight increase in approval for Congress.
Meanwhile, President Joe Biden’s approval rating dropped to 37%.
The Republican Party has made historical gains nationwide as Trump awaits his inauguration after winning the 2024 presidential election, which saw Republicans take the Senate and the House.
In the report, Gallup says the Economic Confidence Index in November is -17, an improvement of nine points from October.
The current index reading is better than the -58 in June of 2022 due to rising inflation in late 2021, the worst rating since the Great Recession of 2007-2009.
The results are from a Nov. 6-20 Gallup poll, where 26% rated the economy as excellent or good, while 32% say it is “only fair” and 40% poor.
Thirty-six percent believe the economy is getting better, while 55% think it is getting worse.
The report says “higher economic confidence is being driven primarily by Republicans.,” showing that Republicans’ confidence boosted 29 points, reaching -43 this month.
The index has a theoretical range of -100 to +100.
Trump took to social media throughout the election year, enabling him to bypass the traditional media and speak directly to voters about the issues he said Americans deemed most important.
Changes in economic attitudes by political party before and after the 2024 election show a shift in the nation’s mood. A notable spike in Republican satisfaction is being offset by a more considerable decline among Democrats.
Satisfaction among Republicans dropped from 60% to 35% after the 2020 election.
Biden’s job approval rating has dipped to 37% from 41% before the election, similar to the rating he received in July before withdrawing from his candidacy for a second term.
Voters will reward the favoring party when they are happy with the state of the nation and punish it when they are dissatisfied, as previously reported by The Center Square. The prior poll found that America’s continued unhappiness with the current state of the nation was seemingly responsible for the defeat of the Democratic party.
The Associated Press has reported the issues that decided the 2024 Presidential election showed racism and healthcare were less important than in 2020, and the economy and immigration reigned in more significant concerns this election.
According to Gallup, in 2024, 80% of Democrats and 7% of Republicans will approve of Biden’s job, while 32% of Independents will approve of the job being done.
American approval for Congress is slowly increasing, making it 19% since before the election.
The poll shows Americans are focusing on three main issues, 21% focused on the government, 20% on immigration, and 17% on the economy. The report shows 11% name inflation as a key issue.
This article was originally published at www.thecentersquare.com
