After stagnating for much of the summer, Americans’ confidence in the economy has been rising throughout August, including a three-point increase last week, Gallup’s Economic Confidence Index shows.
Confidence is now the strongest it has been since early March and, more generally, is at one of its highest points in the past nine years.
Overall satisfaction with the state of the economy, meanwhile, may be one reason that Americans’ perceptions of several major business and industry sectors have risen to 14-year highs.
Gallup’s U.S. Economic Confidence Index averaged +11, up three points from the previous week. The index has increased by nine points over the past three weeks and is now at its highest level since mid-March.
Gallup’s U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they believe the economy is improving or getting worse. The index has a theoretical