December's economic confidence index averaged minus 11 in December,
slightly better than averages from July through November. Confidence was
a bit lower in December than in early 2015, but better than it's been
for most of the time since 2008.
The Economic Confidence Index
rose sharply in late 2014 and early 2015 coincident with falling gas
prices. In January, Gallup's index reached positive territory, with a
monthly score of plus 3, for the first time since the recession.
Confidence ebbed slightly in March and April, returning to negative
index scores. From May to September, though, the index dropped a bit
each month, dipping as low as minus 14 in September. It has since
remained below minus 10.
The slight improvement in the overall
index in December is attributable to Americans' improved views of the
current economy. In December, 25 percent of Americans rated current
economic conditions as "excellent" or "good," while 29 percent rated
them as "poor." This resulted in a current conditions score of minus 4,
up from minus 7 in each of the prior three months and the highest since
June. The economic outlook score was minus 18, matching November's
score. This was the result of 39 percent of Americans saying the economy
is "getting better" and 57 percent saying it is "getting worse."
Americans' outlook for the economy is similar to what Gallup has
measured since July, but remains down significantly from earlier in
2015.
Not surprisingly, Americans' confidence in the economy is
related to their own financial situation. Those in the highest-income
households consistently have more confidence in the economy than those
in households with the lowest annual incomes.
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