Economic Confidence Improves in November, Led by Democrats and Higher-Income Americans

Overall, Americans felt considerably better about the U.S. economy in November, after Gallup's monthly Economic Confidence Index took a hit in October due to the 16-day partial shutdown of the U.S. government, according to Gallup's report released today. The Economic Index averaged -25 across all demographic groups, significantly better than October's -35 but still below the -19 notched in September.

As November showed a marked improvement, it was the first time Americans were feeling more confident about the economy than the previous month since May's index averaged -7. Since that time, the index had steadily declined each month, until last month's uptick.

There were distinct differences on how confident Americans are about the state of the current economy and its future based on income and political affiliation. Democrats, for example, were far and away the most confident in the economy, jumping from -9 points on the index the previous month, to +4 in November. That is a dramatic departure from the sour view Republicans had on the U.S. economy in November, registering -50 on Gallup's index. Independents nearly matched the sentiment of all Americans, averaging -28 in November, up from October's -41.

As was the case with political affiliation, Americans differed in their views of the economy based on income levels. American households earning over $90,000 annually averaged -16 in November's Economic Confidence Index, compared to -27 for those with less than $90,000 in household income.

Gallup's Economic Confidence Index is derived from phone interviews with more than 14,000 American adults. The interviews consist of two parts: an assessment of the U.S. economy's current state, as well as Americans' perception of whether the economy will get better, or worse, going forward.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2750672, ~/Articles/ArticleHandler.aspx, 4/19/2014 11:09:04 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...