On July 1, 2014 Gallup released the poll results titled “U.S. Economic Confidence Remains Level.” The subtitle is “Index averages -15 for June, similar to scores seen throughout 2014.”
Notable excerpts include:
Gallup’s U.S. Economic Confidence Index remained flat in June with a monthly average of -15, after rising to -14 in May. Monthly index scores have hovered near this point for most of 2014. This is very different from the index in the first half of 2013, which rose from -16 in February to a five-year high of -7 in May.
Gallup’s Economic Confidence Index is the average of two components: Americans’ views of the current economic situation and their perceptions of whether the economy is getting better or worse. In May, both of these components were -14. In June, 20% of Americans said the economy is “excellent” or “good” and 34% said it is “poor,” resulting in a current conditions score of -14. The economic outlook score for June was -17 — the result of 39% of Americans saying the economy is getting better and 56% saying it is getting worse.
Here is an accompanying chart of the Gallup Economic Confidence Index:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1973.69 as this post is written