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Tuesday, September 4, 2012

Confidence Slipping


The Gallup Economic Confidence Index registered -27 in August, matching the prior monthly low for the year, recorded in January. August's reading is essentially the same as July's -26; still, confidence has now slid 10 percentage points from the four-year high of -17 recorded in May.
Gallup Economic Confidence Index -- Monthly Averages, January 2008-August 2012
Despite the recent decline, confidence in August remains significantly brighter than a year ago; in August 2011 it was -52 after turmoil on Wall Street and Capitol Hill over raising the U.S. debt ceiling. It is also slightly better than in August 2010 (-32) but on par with August 2009 (-25). Confidence hit its lowest level in Gallup Daily tracking, -60, in October 2008. . . .

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