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.
also:
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.
also:
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