On June 4, Gallup released the poll results titled “U.S. Economic Confidence Continues to Improve in May” The subtitle is “Upper-income Americans’ Confidence enters positive territory.”
Notable excerpts include:
Gallup’s Economic Confidence Index surged to -7 in May, the highest monthly score since Gallup began tracking economic confidence daily in 2008. The current score surpasses the previous monthly high of -13 reached in several months this year.
Americans’ net economic outlook improved to -1 in May from -10 in April, and from -11 a year ago. Americans’ economic outlook score for May is the highest since Gallup Daily tracking began in January 2008. The current score is based on 47% of Americans saying the economy is getting better and 48% saying it is getting worse in May.
Americans’ assessments of current economic conditions also improved last month and is the best monthly score since February 2008. The net current conditions score of -11 in May is up slightly from -17 in April and -23 in May 2012. The current score reflects 21% of Americans rating current U.S. economic conditions as excellent or good, and 32% saying they are poor.
Middle- and lower-income Americans’ economic confidence reached a five-year monthly high of -9 in May, although this is still in negative territory. This score is up from -16 in April and -18 last May.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1628.76 as this post is written