A poll released this week indicates that most Americans believe that the economy is getting worse.
According to Gallup’s Economic Confidence Index, in June, Americans’ confidence in the economy was on the rise, but since then, July and August show a sharp decline in their outlook.
According to Gallup, Americans’ lower level of confidence since early June could be related to a wide variety of factors, including rising mortgage rates, mixed Bureau of Labor Statistics employment news, and more volatile U.S. stock prices in reaction to the Federal Reserve’s decision to taper its bond-buying program.
Gallup’s Economic Confidence Index is based on two questions that ask Americans to rate economic conditions in the country today, and to give their views on whether the economy is getting better or worse.
For the most recent week, 42% of Americans said the economy is getting better, while 54% said it is getting worse.
