Americans' feelings about the current state of the economy are complicated, to say the least. Only 22% of consumers rate the economy as good or excellent, while 78% believe the overall economy is fair or poor, according to the results of a recent survey from Nationwide. This does demonstrate a slight increase in the number of consumers with a positive outlook on the economy, as only 16% rated it as good or excellent in 2023. Around one-third (30%) of those surveyed rated the economic conditions in their specific city or region as good or excellent. When considering their personal financial situation, 36% rated it as good or excellent — a decrease from the 39% who said the same last year. Those who rated the economy negatively said their biggest reasons for feeling this way were inflation (80%), wages not keeping up with the cost of living (51%), and high housing costs (50%). Only around a third of consumers expect their financial situation will improve by the end of 2024, and 69% said they expect living costs to continue to increase over the next 12 months. One of the major areas where consumers are looking to save some money and improve their financial situation is their insurance coverage. The slideshow above illustrates some of the implications the current economy has on insurance, according to Nationwide.

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