![]() After hitting a 13-year low in June, the Gallup survey’s Economic Confidence Index is reporting somewhat renewed views nationally regarding current economic conditions. The most recent confidence index shows that as of late July conditions were given a minus 39 reading. While that it still in the negative territory, it’s an improvement over the June numbers, which came in at minus 51. The index is designed to summarize American attitudes and assessments regarding current economic conditions and has a range of minus 100 all the way up to plus 100. To date, the highest reading on the index was a plus 56, during Bill Clinton’s last year as president and the end of what was known as the dot.com boom. Conversely, the lowest index reading came in October of 2008 just as several large Wall Street investment firms collapsed, during the initial months of the Great Recession. That reading was minus 72. Before the onset of the Covid 19 pandemic and subsequent national economic shutdown, the index was just below the plus 41 mark, quickly descending to minus 33 by April of 2020. The latest Gallup survey records 16% of respondents describing the current economy as excellent or good. Just under 50%, meanwhile, characterized the economy as poor. In June of this year, only 11% had a positive take on the economy, while 54% judged it as poor. A Gallup narrative suggested the slightly improved attitudes were partly related to “the decline in U.S. gas prices, which are now more than $1.00 lower than they were in June,” as well as a reduced unemployment rate. By Garry Boulard
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
Get stories like these right to your inbox.
|