Economic confidence has plummeted in the US amid the Iran war, survey shows | Business and Financial Issues

As oil prices rise, a new survey shows that economic confidence in the US is at -45, the worst since 2022.

Only 16 percent of Americans view the economy in the United States as “good” or “good”, a new Gallup poll shows, while inflation continues to rise among them. war in Iran.

The survey, released Friday, deepens US President Donald Trump’s political woes ahead of the November midterm elections, which will determine whether his Republican Party can control Congress.

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The survey, called Gallup’s Economic Confidence Index, showed that confidence in the economy has dropped to -45.

49 percent of the respondents said that the economic situation is poor and 34 percent said that it is going well. At the same time, 76 percent said they thought the economy was getting worse, while 20 percent said it was getting better.

The index calculates the economic performance, currently at -33 and the economic performance, currently at -56.

It was the worst economic performance the index has recorded since 2022 when the cost of living rose The covid-19 epidemic and the Russian invasion of Ukraine.

Gasoline prices in the US have soared since the conflict with Iran began in late February. The average price of a gallon (3.8 liters) of gasoline has risen to $4.55 from less than $3 in the US and Israel before the war.

According to government reports, consumer prices all rose in March and April due to power problem.

Iran has responded to the US and Israeli strikes – which killed several officials, including Supreme Leader Ali Khamenei, as well as hundreds of civilians – by closing the Strait of Hormuz, sending oil and gas prices soaring.

The US has also launched a round of naval warfare Iranian portsincreasing the pressure on the electricity supply around the world.

Despite the cease-fire that began in April, the blockade continues without an end to the war, and Iran now claims control of Hormuz, which served as a free international route before the war.

Some sections pass through Iranian and Omani waters.

Although the US is one of the largest producers of oil in the world, electricity prices are set globally, so the disruption has become more expensive for American consumers.

As a candidate, Trump promised to be a “peaceful” president, saying he would pursue an “America first” policy that would prioritize domestic issues over foreign affairs.

But the US president has sided with Israel in fighting Iran without directly offending them. Its officials say the military campaign is necessary to prevent Tehran from acquiring nuclear weapons.

Iran denies seeking nuclear weapons. And Trump’s intelligence chief Tulsi Gabbard has said that Tehran is not developing a nuclear bomb.

Trump has repeatedly argued that the cost of the war is worth it, stressing that gasoline prices will drop quickly once the conflict is over.

Last month, the US State Department issued a formal justification for the war, saying that Washington joined the conflict “at the request of and in mutual self-defense with its ally Israel, and in the exercise of the right of self-defense of the United States”.

Friday’s Gallup poll is the latest in a series of bad decisions about the Trump administration.

A New York Times/Sienna poll released earlier this week shows that only 31 percent of voters approve of Trump’s handling of the war with Iran.

Earlier this month, the US President spoke about the economic fallout from the war and its impact on the US population. don’t play part in his way to Iran.

He said: “I don’t think about the economy of the American people. “I think about one thing: We cannot allow Iran to have a nuclear weapon. That’s all. That’s the only thing that motivates me.”