Despite several positive signs for the economy, Americans still have a negative outlook for the future. 

Black Friday and Cyber Monday sales broke records, the economy grew at 5.2 percent and inflation is coming down to the point that the Federal Reserve is indicating they may finally be ready to start cutting interest rates.

However, a Gallup poll from October showed that only 2% of people felt the current economy was excellent, which was down 1% from September. Another poll showed 74% of people felt economic conditions were getting worse and only 21% felt it was going to get better.

Economists said even though things look good on paper - like inflation cooling - it’s still not in the best spot. 

“Prices are still up,” Bob Badowski, the chair of the Westminster School of business said. “Prices didn’t go back down. They inflated 8% and now they’re just inflated on the inflation essentially.”

Other economists said confidence might be low because it's just not hitting American pockets. 

“In any economy we are always dealing with some lag … before people can feel that something forreal is happening in their lives, some progress, some improvement, it takes some time,” Omid Bagheri, Assistant Professor of Economics at Kent State said.  

But even with low confidence, consumer spending during the holidays was way up from last year. 

“They stopped spending because inflation was so high (last year) and now there's a little bit of relief there,” Badowski said. “I don't know where that money is coming from, are they spending money that they have or are they spending money that they don't have?”

Not having that money would mean they’re adding to the rise in credit card debt - something that Badoski thinks is failing in the current economy. 

Bagheri said it’s good for consumers to be cautious about the future of the economy but things could potentially be looking up.

“Based on the numbers right now I don't see any reason why people should be scared and be very pessimistic about the economy,” he said. “Things are going in the right direction as of now.”