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Americans are taking wait-and-see Brexit approach

Staff writer |
The United Kingdom's decision exit the European Union did not immediately affect Americans' confidence in the U.S. economy.

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Gallup's U.S. Economic Confidence Index was -16 in three-day rolling averages recorded before and after the referendum.

This might suggest that Americans are taking a wait-and-see approach before assessing the vote's effect on the U.S. economy, or that Americans are simply unconcerned with matters across the Atlantic.

There is a great deal of uncertainty surrounding how the Brexit decision will affect the global economy in the future.

Many investors reacted negatively, including in the U.S., where the Dow Jones industrial average fell 610 points the day after the vote. Economists' opinions differ on what long-term influence the decision will have in the U.S.

In the short term, Americans appear unfazed by the decision - at least concerning their views of the U.S economy - and they are about as confident in the U.S. economy as they were in the week before the referendum.

Gallup's U.S. Economic Confidence Index was -17 for the entire week ending June 26, including interviewing done partly before and after the Brexit results became known on Friday.

Although this reading matches the low from the past year, the latest index reading is not markedly different from the -15 recorded in the previous week.

Confidence has been consistently negative for well over a year - similar to how it has been for most of Gallup's tracking of the index since 2008.

While the weekly averages in 2016 have fallen short of the positive ones recorded in late 2014 and early 2015, they are still well above many of the dismally low figures registered in the aftermath of the Great Recession.

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