On September 6, 2016 Gallup released the poll results titled “U.S. Economic Confidence Up in August as DNC Rally Persists.”
Notable excerpts include:
The Gallup U.S. Economic Confidence Index rose to a five-month high of -11 in August, up from -15 in July. This month’s four-point gain notwithstanding, the index remains well below its post-recession high of +3 in January 2015 and is one point below this March’s -10, the monthly high for 2016.
Gallup’s U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they feel the economy is improving or getting worse. The index has a theoretical maximum of +100 if all Americans say the economy is doing well and improving, and a theoretical minimum of -100 if all Americans say the economy is doing poorly and getting worse.
In August, 27% of U.S. adults described the current conditions of the economy as “excellent,” or “good,” while 29% said conditions were “poor,” yielding a current conditions index score of -2. This is up slightly from a current conditions score of -5 in July.
The economic outlook index rose in August to -19 from July’s -24. The August outlook score reflects the 38% of Americans who said the economy was “getting better” and the 57% who said it was “getting worse.”
Here is an accompanying chart of the two components 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 2182.95 as this post is written