U.S. economic confidence edged down in February


According to Gallup, “The trend toward rising economic confidence halted in February. Gallup’s index fell out of positive territory at mid-month, resulting in a monthly decline from January. This is the first time since last July that monthly confidence declined to any degree. With experts predicting that gas prices will continue to rise into the spring because of reduced production at U.S. refineries, and assuming gas prices affect how Americans look at the economy, it could be difficult for economic confidence to recover its recent momentum without significantly positive economic news elsewhere.”

After scoring +3 in January, the first positive reading in seven years, Gallup’s Economic Confidence Index edged down to +1 in February. The reading last month is still the second-highest monthly average since Gallup began tracking confidence on a daily basis in 2008.

Gallup’s Economic Confidence Index is the average of two components: Americans’ ratings of current economic conditions and their views on whether the economy is getting better or getting worse. The index has a theoretical maximum of +100, if all Americans believe the economy is excellent or good and getting better; and a theoretical minimum of -100, if all Americans say the economy is poor and getting worse.

Full report, charts and methodology http://www.gallup.com/poll/181796/economic-confidence-edged-down-february.aspx?version=print

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