Economic Confidence Keeps the Streak Alive
ThinkstockThe U.S. Economic Confidence Index, tracked by Gallup since 2008, remained at its +3 level for its third consecutive week running. However, the index has been positive for the past eight weeks. The index is composed of the average of…
The U.S. Economic Confidence Index, tracked by Gallup since 2008, remained at its +3 level for its third consecutive week running. However, the index has been positive for the past eight weeks.
The index is composed of the average of two components. Basically it breaks down to Americans’ opinions on the current economy and on future expectations for the economy. In recent weeks, Americans have been more positive regarding the future of the economy rather than about current conditions. In the latest weekly reading, the current conditions component moved up a couple of points, which balanced out slightly falling expectations.
Since the index has been tracked by Gallup, the most recent positive run has made some waves as readings had been entirely negative for more than a year. The lowest that the index has read is at -65, which occurred at the beginning of the global economic crisis in 2008.
ALSO READ: States Where the Middle Class Is Dying
Suffice it to say, the index has been frozen since it returned to positive territory. Also the stability that it has shown in the preceding weeks seemingly adds more optimism for future expectations. However, rising gas prices could deter future progress. After lower prices likely boosted confidence in recent months, more pressure at the pump could jeopardize future index increases.
Contact [email protected] for any questions or corrections.
Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
