US Economic Confidence Low As Voters Anticipate November Election

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Robert Donachie Capitol Hill and Health Care Reporter
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American confidence in the U.S. economy remains low as voters anticipate the upcoming November election results, according to a recent Gallup poll.

The U.S. Economic Confidence Index remained negative this week at -9, continuing a trend that began May, 2015. While the index is marginally higher than it was in April, May, June, and the beginning of July, 2016, it is still 14-17 points lower than where it was in January and March of 2015, according to the poll.

Confidence rose this month following the Democratic and Republican Conventions, where each party put forth an economic platform. The bolstered confidence observed in January and March of 2015 is likely due to the falling gas prices at the end of 2014.

The index averages both ratings of the U.S. economy and whether individual Americans feel the economy is expanding or contracting. Ratings range on a 200 point spread from +100 to -100.

Over the second week of September, 2016, some 39 percent of American adults felt that the U.S. economic outlook was improving, and 59 percent felt it was getting worse, Gallup reports.

The fact that 59 percent of the American people feel that the economic outlook is getting worse may come as little surprise when GDP growth over the last few years is considered. The economy has grown at a very slow rate since early 2014 to 2016, ranging from a peak of just over 2.5 percent to a low of 0.8 percent.

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Tags : gallup
Robert Donachie