On February 5, Gallup released the poll results titled “Monthly U.S. Economic Confidence Matches Five-Year High.” The subtitle is “Economic confidence improved most weeks in January.”
Two of the most notable excerpts:
U.S. Economic Confidence improved to -13 in January, matching the five-year monthly high set in November 2012. Economic confidence improved steadily from September to November before falling back to -17 after the presidential election, but has now returned to its pre-election peak.
also:
While monthly averages show economic confidence in January matching the five-year peak it first reached in November, weekly averages show even more positive momentum. This increase in consumer confidence seems consistent with the surging equity markets, now at five-year highs, perceptions of an improving housing market, and the deferral of political confrontation over the federal debt ceiling. Evidently, these factors are — at least temporarily — outweighing consumer concerns over the payroll tax increase and increasing gas prices.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 1505.11 as this post is written