On August 31, 2022 Gallup released the poll results titled “U.S. Economic Confidence Improving but Still Weak.”
Notable excerpts include:
Americans are significantly less negative in their evaluations of the U.S. economy than they were in July, with Gallup’s Economic Confidence Index improving from -51 to -39. The index recently hit a 13-year low of -58 in June, the worst since the Great Recession. Confidence has now returned to the levels it was at in March and April.
Currently, 16% of U.S. adults rate current conditions as excellent or good, while 47% describe them as poor. An additional 36% say they are “only fair.” In July, 14% rated conditions positively and 52% poorly.
Here is an accompanying chart of the Gallup Economic Confidence Index:
The Special Note summarizes my overall thoughts about our economic situation
SPX at 3972.24 as this post is written