Thursday, September 10, 2015

Another Blow to Confidence

The gyrations in the market seem to have had an effect on American's confidence.  Although Gallup's Economic Confidence Index began the year in positive territory for the first time since the recession, it averaged just -14 for the week ending September 6. 

According to this measure, confidence began increasing in late 2014, following the decline in gas prices. As gas prices began to rise in late February, Americans' confidence in the economy started to fall.

But the index remained above -10 until July. It has stayed below that level since - including a -17 score for the week ending August 30, when doubts about China's economy made the U.S. stock market fall sharply. This week, 38 percent of Americans say the economy is getting better while 58 percent say it is getting worse.

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