A noticeable shift in economic sentiment is emerging among right-leaning Americans, with new polling suggesting that optimism has declined significantly in recent weeks as the war with Iran weighs on public perception.
According to a survey conducted by YouGov for The Economist, nearly 59% of American adults now believe the economy is getting worse. That marks a significant increase from January and represents the highest level of pessimism recorded since late 2023. Only 16% say the economy is improving—a nearly 10 point drop from January of this year.
Declining Confidence on the Right
The decline in optimism has been driven in large part by Republicans, conservatives, and supporters of Donald Trump.
In early January, 57% of Republicans said the economy was improving. That number has now fallen to 37 percent. Meanwhile, the share of Republicans who believe the economy is getting worse has risen notably.
A similar pattern appears among Trump voters, where optimism dropped from 57 percent in January to 41 percent in March. Among self-identified conservatives, the share saying the economy is improving fell from 59 percent to 40 percent.
Pollsters have also begun tracking a group labeled “MAGA supporters,” and their outlook has shifted as well. In early February, 63 percent of this group believed the economy was improving; that figure has since declined to 47 percent.
Broad-Based Pessimism
While Democrats and independents have long expressed concern about the economy under the current administration, the latest data suggests pessimism is now cutting across nearly all demographic and political groups.
Older Americans—who had previously been more optimistic—have become more negative. Among those aged 65 and older, the share saying the economy is improving dropped from 33 percent in January to 18 percent in March. Middle-aged groups saw similar declines.
Racial and educational divides in economic outlook have also narrowed, largely because optimism has fallen across the board. Among white Americans, for example, the share saying the economy is improving dropped significantly. Differences between college-educated and non-college-educated respondents have also diminished as both groups report similarly low levels of optimism.
Gender gaps have narrowed as well, with both men and women reporting lower confidence in the economy’s direction compared to earlier in the year.
Personal Finances Remain Stable
Despite the growing pessimism about the broader economy, views of personal financial situations have remained relatively steady.
Among Republicans, conservatives, and Trump voters, the share of individuals who say they are better off financially than a year ago has changed little. Expectations about personal finances over the next year have also remained mostly stable.
Additionally, when asked about the current state of the economy—as opposed to its direction—right-leaning respondents still tend to view conditions more positively than the general population.
This divergence suggests that while Americans, particularly on the right, are increasingly concerned with where the economy is heading, many have not yet felt a direct impact in their day-to-day finances.
However, analysts warn that this gap may not last. Rising geopolitical tensions, particularly involving Iran, have raised concerns about energy prices and broader economic stability. If those pressures persist, they could begin to affect household finances more directly.
Uncertain Outlook
The data points to a fragile moment for economic confidence in the United States. Optimism among Republicans and Trump supporters has weakened, even as their personal financial outlook remains relatively intact.
Whether this shift proves temporary or signals a deeper change may depend on how economic conditions evolve in the coming months—especially as global conflicts and domestic policy debates continue to shape expectations.
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The only people that should be worrying about the economy are those that continue to live off credit cards. But they would be in trouble regardless of the overall economy.