On October 7, 2014 Gallup released the poll results titled “U.S. Economic Confidence Index Stable at -15 in September.” The subtitle is “Confidence slightly higher in most recent week.”
Notable excerpts include:
Gallup’s U.S. Economic Confidence Index was steady in September, at -15 for the month, similar to the -16 it averaged in August. September’s reading is also consistent with monthly scores throughout 2014, which have ranged from -14 to -17.
Gallup’s Economic Confidence Index is the average of two components: how Americans view current economic conditions, and their perceptions of whether the economy is getting better or worse. In September, 20% said the economy is “excellent” or “good,” while 34% said it is poor. This resulted in a current conditions dimension score of -14, the same current conditions score found for the past six months.
The economic outlook dimension has varied more, ranging from -13 to -19 this year — though this range has still been much narrower than in previous years. In September, 39% of Americans said the economy is getting better, while 55% said it is getting worse. This resulted in an economic outlook score of -16 — the best outlook score since May, when it was -14.
Here is an accompanying chart of the two components (Sub-Indexes) of the Gallup Economic Confidence Index, discussed above:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1935.10 as this post is written