Americans are planning to spend less money on holiday shopping this year as confidence in the U.S. economy sinks to a new low.

The new Gallup poll , released Thursday, found that its Economic Confidence Index (ECI) fell seven points to -30 in November, which is the lowest since its -24 reading in July 2024. Gallup noted that when President Donald Trump was sworn into office earlier this year, the index stood at -19.

Just 21% of Americans described economic conditions as “excellent” or “good,” a slight drop from the 24% who said the same in October. Another 40% rated the economic conditions as “poor,” a 3-point jump from October.

The poll also showed Americans have low confidence in the labor market. Thirty-three percent of Americans in November said it was a good time to find a qual

See Full Page