During President Donald Trump’s annual State of the Union address on Tuesday, he spoke about the economy and the state of affordability for Americans, saying conditions have improved during his second term.
“Our nation is back: Bigger, better, richer and stronger than ever before,” he said early in his speech.
Many Americans don’t seem to be feeling that way, however. Around 72% of Americans rate the U.S. economy as “fair” or “poor,” a January poll of over 8,500 U.S. adults by Pew Research found. And overall consumer sentiment is down nearly 13% year-over-year as of February, according to the University of Michigan Survey of Consumers, which is released monthly.
During his address, Trump pointed to falling inflation, job growth, tax cuts and stock market gains as evidence that the economy “is roaring like never before” under his leadership.
In January, inflation came in at an annual rate of 2.4%, down from 3% at the same time last year, according to the Bureau of Labor Statistics, and prices for eggs and gas are down 48% and 8% year-over-year, respectively, according to BLS data.
