On June 6, 2017 Gallup released the poll results titled “Confidence In Economy in May Lowest Since November 2016.”
Notable excerpts include:
Though still historically high, Americans' confidence in the economy fell to a six-month low in May, largely dragged down by Democrats' worsening economic attitudes. Gallup's U.S. Economic Confidence Index averaged a score of +3 in May, down slightly from April (+5) but eight points below January's record monthly high (+11).Gallup's U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they believe the economy is improving or getting worse. The index has a theoretical maximum of +100 if all Americans were to say the economy is doing well and improving, and a theoretical minimum of -100 if all were to say the economy is doing poorly and getting worse.
also:
Even as some Americans become more pessimistic about the economy overall, attitudes about the economy's current conditions have been relatively stable. Last month, 32% of Americans assessed the economy as "excellent" or "good," while 22% said the economy was "poor." Overall, the current conditions component averaged +10 in May, similar to +11 in April and three points shy of the nine-year high (+13) the measure hit in February and March.Meanwhile, perceptions about the economy's outlook have more clearly deteriorated. In May, slightly more Americans (49%) said the economy was "getting worse" than said it was "getting better" (45%). The economic outlook component stood at -4 for the month, representing a slight dip from April when the component averaged -1, and it is down notably from its record high in January of +11.
Here is an accompanying chart of the two components of the Gallup Economic Confidence Index, discussed above:
Here is an accompanying chart of the Gallup Economic Confidence Index:
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 2429.33 as this post is written
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