Gallup: Americans’ confidence in economy down, but still strong
Aug. 23 (UPI) — Americans’ confidence in the U.S. economy has dipped slightly since last month and more than 40 percent say things are getting worse, new research said Friday.
Pollster Gallup said its Economic Confidence Index — a gauge based on responses about the economic climate and momentum — fell 5 points this month, to a score of +24. The index has a range from -100 to +100, with positive scores indicating an overall positive evaluation of the economy.
Gallup said the responses indicate Americans are less confident about the direction of the economy than they were a month ago. Fifty percent said the economy is improving, while 43 percent said it’s getting worse. Last month, the figures were 54 and 37 percent, respectively.
Gallup said the index has been in positive territory since 2017.
Despite the dip in confidence, most Americans do not list the economy as the United States’ chief concern, Gallup’s figures show. Twenty-two percent said the government and poor leadership is the top concern, and immigration is the second.
Recent indicators have suggested a recession might be coming. A dip last week in Treasury bonds and predictions by economists are two signals Americans are seeing as possible warnings. Gallup reported Wednesday that nearly 70 percent of Americans and nearly 50 percent of President Donald Trump‘s supporters would blame him for a recession between now and Election Day 2020.
The all-time high for the index, which began in 1992, was +56 in 2000. Gallup polled 1,500 Americans for the survey, which has a margin of error of 3 points.