Study: American Economic Confidence Hits Lowest Point So Far This Year
WASHINGTON (CBSDC) - Recent polling suggests that American confidence in the nation’s economy has hit its lowest point so far in 2014.
The weekly Economic Confidence Index taken by researchers at Gallup found that this week’s score is -20, down three points from the previous week.
The drop also marks the biggest fall between weeks this year.
“Though Americans’ views of the nation’s current economic situation have not moved much in recent weeks, their outlook on the future has become dimmer, pulling overall confidence down,” a release on the poll explained.
Those involved in polling hypothesized that recent headlines may have taken a toll on the positivity of some who were asked for their sentiments on the matter.
“International tensions could have played a role in the drop in confidence, because they have created uncertainties for investors over the past week,” the release stated. “The drop could also be part of a leveling off from post-federal-shutdown gains that drove increases in the index in recent months.”
It continued: “The February Bureau of Labor Statistics unemployment report, released Friday, produced mixed statistics that did not boost Americans’ confidence.”
Researchers also noted that the results could “be an indicator of what economic confidence will be as winter turns to spring if confidence continues to decline.”
Interviews for the Index were conducted between March 3 and March 9 of this year. A random sampling of 3,032 adults participated in the poll.