Economic confidence has declined again, falling to levels not seen since January, according to a new Gallup survey. The poll found that weak jobs reports and poor economic growth had all but halted an earlier positive trend in Americans’ feeling about the economy.
Economic confidence, measured on Gallup’s Economic Confidence Index, declined last week to -29, the lowest level since January. The Index is an average of two measures of Americans’ opinions on the economy – current economic conditions and future outlook.
Gallup reported that opinions on the future economic outlook – whether people thought the economy was getting better or worse – drove the decline in confidence.
“The economic outlook component of the index accounted for the overall change in economic confidence, declining seven percentage points to -29 over the past week.”