Gallup: Economic Confidence Climbs in November

Gallup's U.S. Economic Confidence Index climbed to minus 8 in November, the highest monthly reading in a year and a half. This is up four points from October and essentially ties the post-recession high of minus 7 in May 2013. This is the monthly index's fourth consecutive improvement after a long year of fairly stagnant readings. Until October, the index had remained in a narrow range of minus 14 to minus 17.

Though the index remains in negative territory, November is the closest it has come to breaking into positive territory in quite some time. The current reading is the second-highest monthly reading since Gallup began tracking the index daily in January 2008. November saw higher weekly scores than at any point in the past year and a half, with a weekly high of minus 6 for the week ending November 16. The month ended with a score of minus 8 for the week ending November 30. Meanwhile, 43 percent of Americans said the economy is "getting better," while 52 percent said it is "getting worse." This resulted in an economic outlook score of minus 9 -- the best outlook score since July 2013.

Confidence among lower- and middle-income Americans climbed three points from October, to a current score of minus 11, and among higher-income Americans, it rose four points to plus 6. Upper-income Americans, those who make $90,000 a year or more, also had positive index scores of plus 5 in May and June of 2013.

November's economic confidence reading brings more promising news for those watching the index's movement. The consecutive monthly increases in economic confidence come as gas prices continue to drop and are slated to fall below $2 a gallon in some parts of the country. Additionally, the Dow rose 2.5 percent in November.