On October 4, 2016 Gallup released the poll results titled “U.S. Economic Confidence Changed Little in September.”
Notable excerpts include:
The modest improvement in Americans’ economic confidence first evident after the Democratic National Convention continued for a second consecutive month. Gallup’s U.S. Economic Confidence Index averaged -10 for the month of September, in line with August’s average of -11 and five points higher than the index’s 12-month low in July.
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 September, an equal percentage of Americans (28%) rated current economic conditions as “excellent” or “good” and “poor.” Overall, the monthly average of the current conditions component stood at 0. While this score is essentially unchanged from the August value (-2), it is only one point below its January 2015 post-recession high of +1.
The economic outlook component stayed put in September, averaging -19. The September outlook score reflected 38% of Americans saying the economy was “getting better,” and 57% saying 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 2148.45 as this post is written