WASHINGTON (CBSDC) - A recent Gallup Poll indicates that American confidence in the economy has slipped slightly after hitting a five-year high. The weekly poll also showed that half of the nation feels the economy is getting worse.
The results of the poll, released Tuesday, indicate that the dip marks the first weekly decline after three previous weeks of steady improvement.
“Gallup’s U.S. Economic Confidence Index fell slightly to -11 last week after tying the five-year weekly high of -8 the prior week and registering improvement for three straight weeks,” a release on the poll’s results stated. “Still, the current reading is one of the highest weekly scores of the year.”
The poll is meant to reflect not only American perspectives on the current state of the economy, but also, gauge whether or not people see the economy improving or getting worse. In both regards, Americans expressed less confidence last week than they had in weeks prior.
Specifically, 19 percent of Americans say the economy is excellent, according to Gallup, while 35 percent rate it at the opposite end of the spectrum as poor.
Additionally, 44 percent feel the economy is improving, while 50 percent feel it is getting worse.
“Although the Gallup Economic Confidence Index fell slightly last week, Americans’ confidence in the economy remains stronger this year than it has been over the last several years,” researchers wrote in the release. “Still, the index score has quickly retreated both times it reached the five-yearly weekly high this year, and has never been in positive territory since Gallup began Daily tracking of economic confidence in 2008.”
The team at Gallup conducted phone interviews from May 6 to May 12 with 3,553 randomly selected adults from all parts of the United States.