Princeton, NJ--the sharp deterioration in the outlook and six consecutive weeks, reduction in Wall Street, sent confidence Americans in the United States economy plunging in the average-35 during the week ending 12 June--reduction of nine percentage points from two weeks ago, and six points worse than it was in the same week a year ago. Economic confidence, now approaching 2011 weekly low level.
Economic confidence has reached its peak this year at-18 in February and then generally declined through the week ending 24 April, when he made 39 as gas prices towns and economic activity slowed. Economic confidence has risen to 25 during the week after the death of Osama bin Laden and coincided with endorsement "rally" in President Obama rating. However, Americans have become more pessimistic about the economy in early June, with confidence returning to late April levels.
Index of economic confidence Gallup consists of two elements: one dimension perceptions about whether the economy of the United States "getting better" or "worse" and the second dimension of Americans rating current economic conditions as "excellent", "OK," "only fair" or "poor". Early June to plunge into the weekly economic certainty the result of the decline in both paragraphs.
The deterioration of economic expectations
Thirty percent of Americans said the economy is getting better in the United States last week--fell from 37% during the month of May and near the low for the year. The five items below to read the same week in 2010.
"Poor" ratings of the economy 2011 match lowest level
Nearly half of Americans rating current economic conditions as poor last week--the highest level of compliance for the "poor" ratings until 2011. These ratings are the three points worse than the previous week, and three points lower than a year ago.
The Effects Of
Gallup's economic confidence measure, increased drastically in early may, coincided with the bump in approval by the President after the death of bin Laden. However, bin Laden "halo effect" on economic confidence evaporated in early June, as the economic news is becoming more negative.
Unemployment and underemployment, as measured by Gallup showed no improvement compared with a year ago. In this regard, the job numbers Government approached the Gallup numbers as United States unemployment rate as reported by BLS, has deteriorated in March from 8.8% to 9.0% 9.1% in April and may.
The sharp drop in economic confidence in early June was in line with the deterioration of the situation in terms of employment, six weeks in a row decline on Wall Street and concerns about the global economic slowdown. Even the recent decline in gas prices to $ 3.78 per gallon wasn't enough to compensate for the loss of consumer optimism--perhaps in part because the total pump prices remain more than 1 dollar per gallon higher than they were a year ago.
The key question going forward is whether current economic soft patch is going to be modest and temporary or something more substantial. Two of the three Americans say economy is worse than "United States"--is approaching a high for the year--suggests that many consumers may see something more substantial from a viewpoint of ease in the summer.
Gallup.com reports on the results of these indexes in daily, weekly and monthly average and Gallup.com history. Complete trend data are always available for view and export in the following diagrams:
More of Gallup's economic measures.
Views our economic calendar.
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