On May 2, 2017 Gallup released the poll results titled “U.S. Economic Confidence Index Falls in April, but Still Positive.”
Notable excerpts include:
Americans’ economic confidence weakened slightly in April, but they remain positive about the current state of the U.S. economy. Gallup’s U.S. Economic Confidence Index averaged +5 in April, down four points from March’s average. Despite the dip, confidence has been in positive territory for six consecutive months — the longest such streak in the past nine years.
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 were to say the economy is doing poorly and getting worse.
In April, 32% of Americans rated economic conditions in the country as “excellent” or “good,” while 21% rated conditions as “poor.” This left the current conditions component of the index at +11 for the month, down slightly from March’s +13.
Meanwhile, 46% of Americans said the economy was “getting better” in April, while 47% said it was “getting worse.” Because of this, the economic outlook component fell to -1 from +4 in March.
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 2388.20 as this post is written