Americans' confidence in the economy remained at a 2017 low in June, with the ECI averaging +3 for the second consecutive month. Despite confidence lagging below January's monthly record high of +11, June nonetheless marked the eighth consecutive month in which U.S. adults rated the economy positively.
After Donald Trump's election economic attitudes fundamentally changed, thanks in large measure to Republicans' newfound optimism. Economic confidence peaked in January 2017, remaining high through March. U.S. stock markets soared during this time, and many analysts believed that some elements of Trump's economic agenda -- such as cutting taxes and increasing spending on infrastructure -- would lead to an era of higher economic growth, although these projections have yet to materialize. But since March, confidence has softened somewhat, as Democrats and independents lost faith in the economy.
Last month, Americans continued to view current economic conditions positively, with 33 percent describing the economy as "excellent" or "good" compared with 23 percent describing it as "poor." This leaves the current conditions component at +10 for June, identical to its performance in May. For the third month in a row, however, a larger share of Americans (49 percent) said the economy is "getting worse" than said it is "getting better" (45 percent). This puts the economic outlook component at minus 4 in June, in line with its May reading.