On June 5, Gallup released the poll results titled “U.S. Economic Confidence Up in May, Steady Last Weekend.” The subtitle is “Confidence improved to -17 in May, the highest monthly average in over four years.”
Three of the most notable excerpts:
Gallup’s Economic Confidence Index averaged -17 in May, improved over the -20 averages recorded in March and April, and the highest monthly average since Gallup began Daily tracking in January 2008.
Both components of the index — Americans’ ratings of current economic conditions and their perceptions of whether the economy is getting better or getting worse — improved slightly in May. The -11 economic outlook rating reflects 42% of Americans saying the economy is improving and 53% saying it is getting worse. At the same time, 16% of Americans say the economy is in excellent or good shape, while 39% consider it poor, resulting in a -23 current conditions rating.
The three-percentage-point increase in Americans’ economic confidence in May is the best one-month change since February, and restores confidence’s upward trajectory that started last fall.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1274.54 as this post is written