Economic Confidence Dips from November High — Gallup

100267991For the week ending January 6th, the Gallup U.S. economic confidence index came in at -21, an improvement of 1 points the previous week's reading of -22, but down sharply from the average reading of -13 for the month of November.

The largest drop came from the reading on the economic outlook, down from a high of -1 in early November to -18. The current conditions index came in at -24, down from -18 in early November.

The polling firm noted:

… Americans became less confident in the economy. And their confidence remains lower even after Congress passed and President Obama signed into law a bill that successfully staved off the fiscal cliff. Now that the deal is done, it is possible that Americans will start to feel better about the economy in the days and weeks ahead. However, lingering concerns could keep confidence from improving much, as happened in September and October 2011, after the debt ceiling debate.

The default on U.S. debt remains a serious threat to the economy, with the political divide in Congress unchanged since the last election.


Filed under: 24/7 Wall St. Wire, Economy, Research

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33 Comments

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tom

Earth to "AttorneyEarle". Clinton did NOT leave Bush 300 Trillion in surplus.

January 08 2013 at 8:13 PM Report abuse rate up rate down Reply
calderasf

Success repubnuts are scaring the crap out of people and playing with our economic well being with all their threats to ruin economy if they don't get their minority way.

January 08 2013 at 7:45 PM Report abuse -1 rate up rate down Reply
slvs2hike

Why should this surprise anyone. The country voted for a man whose economic plan was, "You need to have faith---just believe." And not a thing more of substance. So down the tubes we go.

January 08 2013 at 7:27 PM Report abuse +1 rate up rate down Reply
mooncop1

Four more years of Obama and Reid should about do it.

January 08 2013 at 7:27 PM Report abuse rate up rate down Reply
Di

I agree with Monza866, the decline clearly came as a result of Obama being re-elected. I hope everyone that voted for him in November is happy when people continue to lose their jobs, the value of real estate continues to decline & your net income decreases due to tax hikes. You have nobody to blame but yourselves.

January 08 2013 at 5:24 PM Report abuse +2 rate up rate down Reply
parthenon1

It should be a mystery to even todays uninformed youth, it certainly is to most of the rest of us who do read newspapers and periodicals and dont just rely on what social media and TV has to say about how we are going to deal with the scary economy. The president hasnt seen a budget in 3 years although it is illegal for Harry Reid to keep one from being passed he still does it. The reason a reasonable budget couldnt be passed since there are enough Democratic senators who see the light and would vote with Repubs to take down any spendthrift budget up for a vote. Why would any thinking person allow the current government to do what they are doing....WE ARE BROKE !!! if some one in government doesnt act with some sense very soon it will be found out we are a third world country. right where Obama said in his book he wanted us to be in honor of his communist father.

January 08 2013 at 5:16 PM Report abuse +3 rate up rate down Reply
crrunch

I was unaware it hit anything that could be remotely considered high.

January 08 2013 at 4:32 PM Report abuse +1 rate up rate down Reply
monza866

The decline came as a result of Obama's re-election. There was hope of a change but it never came. There is zero confidence that Obama and the dems have any plan to fix the economy just tax and spend. How many voters were fooled? Just enough to break the confidence.

January 08 2013 at 4:21 PM Report abuse +4 rate up rate down Reply
tevroc143

I have zero confindence in GOP/TEA doing anything right for this country. Anyone who complains about spending while pushing war at every turn is absolutely insane. GOP/TEA can always find money to blow up other countries, but can never find a dime to rebuild America. I wonder if bombing Iran will have to be paid for? Of course not. Just like Iraq and Afghanistan were added to the debt without any qualms from GOP/TEA.

The last debt ceiling showdown cost the taxpayers $19 billion in increased interest on the debt because of their insanity. This time the cost will be more and another credit downgrade will finish off our nation. Of course, the rightwing nuts will have gotten what they wanted and can point their crooked little fingers at President Obama and blame him for it all.

January 08 2013 at 4:14 PM Report abuse -6 rate up rate down Reply
1 reply to tevroc143's comment
levmebe69

Still trying to blame Bush is getting real old. Harry reid refuses to bring a budget before the senate for over three years and you blame the tea party forwars that are still going on. The tea party started in 07 long after the wars started. By the way.Where are all the anti-war protesters at ? The wars are going strong but the protesters went under the woodwork after the election before this one. Very strange.

January 08 2013 at 6:01 PM Report abuse +1 rate up rate down Reply
Iselin007

Everyone wants to be elected to office it's the only job that has benefits and lasts long enough to collect a pension!

January 08 2013 at 3:58 PM Report abuse +2 rate up rate down Reply