Gallup's latest U.S. Economic Confidence Index remained in positive territory for a third consecutive week, averaging 4 points for the seven days that ended on January 11. The index first reached a positive reading the week of December 27. The lowest reading was negative 65 points in October 2008.
The index has a theoretical minimum of negative 100, if all U.S. residents believed that the economy was poor and deteriorating further, and a theoretical maximum of 100 points, if everyone believed that the economy was excellent, or good, and getting better.
In the most recent week, 28 percent of residents said the U.S. economy was excellent or good and 25 percent felt that it was in poor shape. The economic outlook component of the index rose to 5 points, the highest to date, with 50 percent saying that the economy is "getting better," while 45 percent said it was "getting worse."
Gallup concluded that the index continues to make progress and was helped by lower gasoline prices, slightly lower unemployment and an improved gross domestic product (GDP) outlook.
