Even as the U.S. stock market continues to rise, Americans’ confidence in the economy has dropped to its lowest level since late April. Gallup’s Economic Confidence Index registered -13 for the week ending July 28. This is essentially unchanged from -12 during the prior two weeks, but is 10 points lower than it was in early June. Still, consumers’ confidence remains higher than it was in early March, after automatic federal budget cuts took effect.
While Americans’ confidence has generally retreated since early June, from a longer-term perspective, the current index score is still one of the best Gallup has measured since January 2008.