On December 2, 2014 Gallup released the poll results titled “U.S. Economic Confidence Index at 17-month High.”
Notable excerpts include:
Gallup’s U.S. Economic Confidence Index climbed to -8 in November, the highest monthly reading in nearly a year and a half. The index in November essentially matches the post-recession high of -7 in May 2013.
Gallup’s Economic Confidence Index is the average of two components: how Americans view current economic conditions, and their perceptions of whether the economy is getting better or worse. In November, 24% said the economy is “excellent” or “good,” while 30% said it is “poor,” resulting in a current conditions score of -7, the highest current conditions score since January 2008.
Meanwhile, 43% of Americans said the economy is “getting better,” while 52% said it is “getting worse.” This resulted in an economic outlook score of -9 — the best outlook score since July 2013.
Here is an accompanying chart of the two components (Sub-Indexes) of the Gallup Economic Confidence Index, discussed above:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 2061.04 as this post is written