On January 7, 2014 Gallup released the poll results titled “U.S. Economic Confidence Improved Again in December.” The subtitle is “Gallup’s Economic Confidence Index rose to -19 from -25 in November.”
Notable excerpts include:
Gallup’s Economic Confidence Index improved to -19 in December from -25 in November, and is now much higher than the -35 found in October amid the federal government shutdown. While the December index matches September’s score, it remains below the improved monthly readings that prevailed from October 2012 through August 2013.
Americans’ assessments of current U.S. economic conditions and their perceptions of whether the economy is getting better or worse — the two components that make up Gallup’s Economic Confidence Index — improved in December.
The net current conditions score rose to -19 from -23 in November, and now matches September’s score. Last month, 18% of Americans said the economy was excellent or good, while 37% said it was poor. The monthly net current conditions score has not moved out of negative territory since Gallup began Daily tracking, although it came close in January 2008, at -1.
The net economic outlook score grew to -19 from -27 in November, and now sits just below the -18 measured in September. The December score reflects 38% of Americans saying the economy is getting better and 57% saying it is getting worse. Americans’ views on the economy’s direction peaked at -1 in May 2013.
Here is an accompanying chart of the Gallup Economic Confidence Index:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1838.45 as this post is written