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U.S. Economic Confidence Index stable at +3

Staff Writer |
Americans' confidence in the economy remains slightly positive, with Gallup's U.S. Economic Confidence Index registering +3 for the week ending May 28. The index has ranged from +2 to +4 throughout May.

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Despite being positive, Americans' confidence in the economy is lower than it was after a post-election boost from December to March when the index regularly yielded scores of +10 and above.

A stock market downturn in late March shook Americans' confidence, and the index has remained below +10 since.

Still, the recent confidence levels are well above the largely negative ratings that Gallup recorded from 2008 through 2016.

Gallup's U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they feel 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.

For the week ending May 28, one in three Americans (33%) assessed the economy as "excellent" or "good," while 22% said it was "poor," resulting in a score of +11 for the current conditions component - similar to the previous week's +12.

This component has been fairly stable in 2017, registering double-digit scores in nearly all weeks so far this year.

Meanwhile, half of Americans (50%) said the economy is "getting worse," and 44% said it is "getting better," producing an economic outlook score of -6.

Though not meaningfully different from the -4 recorded in the previous three weeks, the latest score is the lowest for this component since November's election.

The economic outlook score has gradually dipped since a record high of +15 in March.