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.
also:
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.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 1402.52 as this post is written