“Americans are less upbeat about the economy now than they were in May and June. Gallup’s U.S. Economic Confidence Index held steady at -12 last week, but the current score is substantially lower than the five-year weekly high of -3 reached in late May and early June. Americans’ confidence in the economy has recovered from sharp drops this year during the “fiscal cliff” debate at the start of the year and the sequestration budget cuts that began in early March. The public’s confidence inched closer to positive territory and reached a new peak in late May and early June after U.S. stock prices surged and housing values increased. Still, consumer confidence is generally improved from levels Gallup has measured since 2008.”
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