U.S. economic confidence jumps, falls in August
Gallup's U.S. Economic Confidence Index was +6 in August, just slightly higher than the +4 recorded in July.
Though 2017 has generally been a strong year for Gallup's U.S. Economic Confidence Index, the metric has stagnated in recent months.
From May through July, confidence averaged no higher than +4 on a monthly basis -- down from January's record high of +11 - and no better than +5 on a weekly basis.
In the beginning of August, economic optimism appeared to be on the rise again.
During the first week of the month, Jul. 31-August 6, economic confidence climbed five points to +7, likely in response to the Dow Jones Industrial Average surpassing the 22,000 mark for the first time in the indicator's history on August 2.
Then, in the third week of August, Gallup's U.S. Economic Confidence Index notched up to +11, the highest weekly score since mid-March.
However, economic confidence soon returned to the single-digits range, falling seven points to +4 during the week of August 21-27.
Last week, Americans' confidence in the economy stayed stable at this lower level, averaging +3 for the week ending September 3. ■