A new release by Rasmussen shows consumer confidence in the U.S. economy increasing slightly from last month, but the economic outlook remains far below the pre-COVID-19 pandemic economy.
The latest Rasmussen Reports Economic Index shows an economic confidence score of 89.3—over 10 points higher than last month, but still well below any semblance of strong economic confidence such as that seen in the late 2010s.
This subtle improvement in the assessment of the U.S. economy may be partially attributable to a flattening in the rate of inflation, which calmed down in July’s Consumer Price Index after June’s data attested to a new 40-year record rate of annual inflation (9.1 percent). While the month-to-month rate of inflation remained constant between June and July, the annual rate was lower in the most recent data, falling at a somewhat lower 8.5 percent.
Confidence in the economy was highest during Trump’s presidency,…
