In brief
As the festive season approaches, a significant percentage of Americans report financial strain due to elevated prices on groceries, utilities, and gifts, according to a recent poll. The survey highlights widespread concerns about the economy under President Trump, drawing parallels to last year's inflation fears during Biden's presidency. Although consumer spending remains steady, many are shifting their shopping habits in search of bargains, indicating a pervasive sentiment of economic pessimism before the upcoming midterm elections.
WASHINGTON (AP) — This holiday season isn’t quite so merry for American shoppers as large shares are dipping into savings, scouring for bargains and feeling like the overall economy is stuck in a rut under President Donald Trump, a new AP-NORC poll finds.
The vast majority of U.S. adults say they’ve noticed higher than usual prices for groceries, electricity and holiday gifts in recent months.
Roughly half of Americans find it more difficult than usual to afford holiday gifts, with many delaying larger purchases or cutting back more on nonessential items than normal.
This situation poses a significant challenge for the Republican administration, which has struggled to address rising inflation and maintain consumer confidence. Many Americans still perceive the economy as poor, mirroring sentiments from previous years with similar economic troubles.
The president's assertions of a booming economy clash sharply with consumer realities, with many Americans expressing concerns over inflation and purchasing power.
Polling findings indicate that 68% of U.S. adults consider the economy 'poor,' a sentiment unchanged since last year. The increasing costs are felt across the board, affecting gifts and everyday expenses.
Despite these challenges, consumer spending has shown resilience, although many are now budgeting more carefully or shopping locally to seek out less expensive options.
With an uncertain economic future, optimistic outlooks are dwindling, as many predict that conditions will either worsen or remain stagnant in the upcoming year, revealing deep-rooted issues within the current economic framework.
The AP-NORC poll of 1,146 adults was conducted Dec. 4-8 and has a margin of sampling error of plus or minus 4 percentage points.
