On January 3, 2017 Gallup released the poll results titled “Ahead of Election, Americans’ Confidence in Economy Steady.”
Notable excerpts include:
Americans ended 2016 with higher confidence in the U.S. economy than they have expressed at any other point since 2008. Gallup’s Economic Confidence Index averaged +9 in December, up eight points from November.
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 were to say the economy is doing well and improving, and a theoretical minimum of -100 if all Americans were to say the economy is doing poorly and getting worse.
In December, 30% of Americans rated the economy as “excellent” or “good,” while 22% said it was “poor,” resulting in a current conditions score of +8. This was up from November’s +5 current conditions score and marks the highest reading for this component since 2008.
Meanwhile, the outlook score was up more sharply, rising to +10 in December from -4 the prior month. The December score, the highest in Gallup tracking since 2008, reflected 52% of Americans saying economic conditions in the country were “getting better,” while 42% said they were “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 2257.83 as this post is written