Economic confidence at 10-month low in poll
28-Jul (TheHill) — An index measuring economic confidence fell to a 10-month low in a Gallup survey released Tuesday.
Gallup’s Economic Confidence Index dropped to -14 last week, which was the lowest level recorded since last September.
The index has been on a downward trajectory since late January when the index peaked at +5, which was the highest weekly score since Gallup began tracking economic confidence in 2008.
Since mid-March, the index has consistently been in negative territory.
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PG View: Between this poll and today’s announcement that consumer confidence plunged in June, it just doesn’t strike me as a particularly good environment to be raising rates. We’ll see what the Fed has to say about that tomorrow.