On February 3, 2015 Gallup released the poll results titled “Eight-Point Increase in Monthly Economic Confidence Index.”
Notable excerpts include:
Gallup’s U.S. Economic Confidence Index, which has been positive foreach of the past six weeks, finished January with an average score of +3 — the first time a monthly average has been in positive territory since the recession. The monthly index score is up eight points from December — the highest month-to-month increase in more than a year.
Gallup’s Economic Confidence Index is the average of two components, Americans’ ratings of current economic conditions and their views on whether the economy is getting better or getting worse. The index has a theoretical maximum of +100, if all Americans thought the economy was excellent or good and getting better; and a theoretical minimum of -100, if all Americans thought the economy was poor and getting worse.
For the entire month of January, 27% of Americans said the economy is “excellent” or “good,” while 26% said it is “poor.” This results in a current conditions score of +1, up six points from December. Meanwhile, the economic outlook score increased by nine points, reaching +5, based on 50% of Americans saying the economy is “getting better” while 45% said it is “getting worse.”
Here is an accompanying chart of the two components (Sub-Indexes) of the Gallup Economic Confidence Index, discussed above:
Here is an accompanying chart of the Gallup Economic Confidence Index:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 2030.30 as this post is written