Economic Confidence Jumps — Gallup
For the week ending January 27, the Gallup U.S. economic confidence index came in at -9, an improvement of four points the previous week's reading of -13, beating the previous weekly high of -10 during the week prior to last November's elections. The Gallup numbers are not echoed by the Conference Board's consumer sentiment index, which fell to its weakest reading in more than a year today.
The economic outlook subindex improved by four points, from -7 a week ago to -3. The current conditions subindex came in at -14, down from -18 in the previous.
The polling firm noted:
Americans' current views of the U.S. economy clearly indicate a new wave of optimism during the start of 2013. Americans are now more positive about the economy - taking into account current conditions and the outlook for the future - than at any time since the recession and global financial crisis. This likely reflects a combination of factors, including the recent surge in U.S. stock markets, Democrats' becoming more confident about the economy after the U.S. presidential election, and the lifting of the uncertainty that surrounded the election and the fiscal cliff budget negotiations toward the end of 2012.
This week's reading is the highest since Gallup started this tracking poll in January 2008.
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