June 27, 2012
U.S. Economic Confidence Continues to Slide
Economic confidence declines to -26, lowest since late January
Gallup's Economic Confidence Index consists of two measures -- one assessing current economic conditions and the other assessing the nation's economic outlook. Americans' perceptions of current economic conditions worsened to -31, down four from the previous week, with 44% saying the economy is poor and 13% saying it is excellent or good. Attitudes about the economic outlook were down marginally last week, at -21.
A disappointing May jobs report combined with the tepid economic climate in Europe and downgrading of major U.S. banks appear to have given U.S. consumers cause for concern in June. It will be interesting to see how the last week of June wraps up. There may be reason for optimism, with Gallup's U.S. unemployment rate having reached its lowest number in over two years. In the coming weeks, a decline in the Bureau of Labor Statistics' U.S. unemployment number for June could help improve confidence, as could falling gas prices, which immediately affect the pocketbooks of Americans, if the price declines continue as expected.
Gallup.com reports results from these indexes in daily, weekly, and monthly averages and in Gallup.com stories. Complete trend data are always available to view and export in the following charts:
Daily: Employment, Economic Confidence, Job Creation, Consumer Spending
Weekly: Employment, Economic Confidence, Job Creation, Consumer Spending
Read more about Gallup's economic measures.
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