American Economy,  Polling

Poll Watch: U.S. Economic Optimism Declines



According to the latest Gallup Poll.

Gallup’s Economic Confidence Index worsened to -24 in February from -21 the prior month as Americans’ optimism about the U.S. economy receded from a three-year high reached in January.

Gallup’s Economic Confidence Index is based on two questions. One measures consumers’ perceptions of current economic conditions and shows them to be the same in February as in January, with 42% of Americans rating current economic conditions “poor.”

The second Index component asks Americans to rate the outlook for the U.S. economy. In February, 38% said economic conditions are “getting better,” down from 41% a month earlier. However, this decline follows a January optimism level that tied for the highest since Gallup Daily tracking began in January 2008.

I do not see any improvement in either economic optimism or the economy in California. I talk to regular folks every week and they are all concerned about the declining job’s base and economic uncertainty.

I think there was a small bump in perception with Obama and the GOP compromising on the Bush Tax Rates and the payroll tax holiday which is now underway. But, ObamaCare reforms loom, health insurance premiums and gasoline prices are skyrocketing and no new employers are on the horizon.