Americans’ Economic Confidence Steady Last Week

Filed under: News,The Economy |

By ALYSSA BROWN, Gallup— Gallup’s Economic Confidence Index was -13 for the week ending April 28, essentially unchanged from -14 the prior week.

U.S. economic confidence during the past two weeks has remained at the higher end of the range seen since March, suggesting that the Boston Marathon bombings did not shake Americans’ confidence in the national economy.

 Economic confidence held steady last week

Economic confidence held steady last week

The current weekly score remains one of the best of the year and is five points off from the five-year high of -8 reached in early February.

Gallup’s Economic Confidence Index is based on Americans’ ratings of current economic conditions in the United States as well as their assessments of whether the economy is getting better or worse.

Americans’ assessments of both index components held steady last week.

Currently, 19% of Americans say economic conditions in the country today are excellent or good and 35% say they are poor, for a current conditions score of -16.

Meanwhile, 43% say the economy is getting better, while 52% say it is getting worse, for an economic outlook score of -9.

Both components are lower than they were in late January and early February but higher than they were at this same time last year.

Americans’ evaluations of the current state of the economy have generally been less positive this year than their assessments of the economy’s future direction, which generally has been the case since December 2011.

Bottom Line

Americans’ confidence in the economy has been stable in the weeks following the Boston Marathon bombings.

There are positive signs that U.S. economic confidence may improve in the months ahead, such as Americans’ optimism this year about home prices in their local area and their personal financial situation, compared with the past several years.

Still, major improvements in Americans’ confidence in the economy will likely depend on lower unemployment and more economic growth.

Source: Gallup Economy

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