On December 3, Gallup released the poll results titled “U.S. Economic Confidence Rises in November.” The subtitle is “Confidence has not yet recovered to pre-shutdown level.”
Notable excerpts include:
Americans were much more upbeat about the U.S. economy in November than they were in October, but are still less confident than they were in the months before the federal government shutdown. Gallup’s Economic Confidence Index averaged -25 in November, improving from -35 in October but still below the -19 found in September. November is the first month that the index has improved since May, when it peaked at -7.
Gallup’s Economic Confidence Index is based on two components: Americans’ assessments of current economic conditions in the U.S. and their perceptions of whether the economy is getting better or worse. The outlook component, which took the greater hit during the shutdown, improved more than the current conditions component last month.
The net economic outlook score last month improved significantly to -27 from -40 in October, but is still nine points off from September’s score. The November score represents 34% of Americans who said the economy is getting better and 61% who said it is getting worse.
The net current conditions score rose to -23 in November from -30 in October, and is four points lower than in September. Last month, 16% of Americans said the economy was excellent or good, while 39% said it was poor.
Here is an accompanying chart of the Gallup Economic Confidence Index:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1800.90 as this post is written