Data Snapshot

The US Consumer Economic Sentiment Snapshot, June 2024

Looming US Elections Create Increased Anxiety Around The Economy

July 31st, 2024
Audrey Chee-Read, Principal Analyst
Audrey Chee-Read Principal Analyst
Andrew Linnehan, Sr. Data Partner
Andrew Linnehan Sr. Data Partner
With contributors:
Mike Proulx , Bruna Venicio

Political leanings are still a bigger predictor of concern for the direction of the economy than age or income. In 2023, consumer economic sentiment was polarized based on political leanings. That’s still true, but the gap has significantly closed as US election activities and headlines increase. Financial analysts expect more uncertainty and volatility in the months leading up to the election. Between February and June 2024, US online adults’ concerns (across political affiliations) increased significantly around personal financial situations — in the short and long term — and the economy. Looking ahead, marketers should expect consumer concern to continue to rise as the election reaches a fever pitch.

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