Economic confidence in the US is the best it has been in a year, according to new data from Gallup. The data meshes with improved employment, and a general improvement in consumer confidence. The only part of the economy that appears to still lag significantly is housing, and that anchor is no longer the prevailing weight
U.S. economic confidence is at -20 for the week ending Feb. 12, improved from -25 the prior week and the best since the -18 reading in mid-February 2011.
The pronounced increase in economic confidence so far in 2012 is largely driven by a sharp increase in consumers’ feelings about the U.S. economy’s future direction. The percentage of Americans saying the economy is “getting better” increased to 42% last week, while the percentage saying it is “getting worse” fell to 54%. Both of these measures are at their best levels since the 43% “getting better” and 52% “getting worse” of the week ending Feb. 13, 2011. In a separate question, consumers’ “poor” ratings of the economy, now at 41%, are at their lowest level in a year.