On July 2, Gallup released the poll results titled “U.S. Economic Confidence Holds Near Five-Year High in June.” The subtitle is “Gallup’s Economic Confidence Index is -8 for June, similar to -7 in May.”
Notable excerpts include:
Americans’ confidence in the economy held steady in June, despite U.S. stock prices registering a monthly decline for the first time this year. Gallup’s Economic Confidence Index averaged -8 in June, on par with -7 in May — the highest monthly score since Gallup began tracking economic confidence daily in January 2008.
The stronger May and June ratings pushed the average confidence score for the second quarter of 2013 to -9, the third consecutive quarter the index has improved. The -9 second quarter score is also the best Gallup has measured for any quarter to date since it began daily tracking of confidence in 2008.
Americans’ net economic outlook was -3 in June, similar to the -1 recorded in May — the highest monthly economic outlook score in more than five years. The current score is based on 46% of Americans saying the economy is getting better and 49% saying it is getting worse.
Americans’ assessments of current economic conditions were essentially unchanged in June, at -12. The score reflects 20% of Americans rating current U.S. economic conditions as excellent or good and 32% saying they are poor.
Here is the accompanying chart depicting monthly economic confidence:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1611.95 as this post is written