On September 4, Gallup released the poll results titled “Economic Confidence in August Ties 2012 Low.” The subtitle is “U.S. economic outlook lowest since December 2011; still better than year ago.”
Two of the most notable excerpts:
The Gallup Economic Confidence Index registered -27 in August, matching the prior monthly low for the year, recorded in January. August’s reading is essentially the same as July’s -26; still, confidence has now slid 10 percentage points from the four-year high of -17 recorded in May.
While both components of the index — Americans’ ratings of current economic conditions and their perceptions of the economy’s direction — were down in August, the outlook dimension slipped more, falling three points to -26, from -23. As a result, Americans’ economic outlook is now worse than in any month since December 2011.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1402.52 as this post is written