After a quick jump from -60 in February 2009 to -26 in June 2009, the Gallup Weekly Confidence Index has been range-bound between -20 and -30 ever since. The confidence index now sits at -26, where it was two years ago.

Gallup’s Economic Confidence Index is based on the combined responses to two questions, the first asking Americans to rate economic conditions in this country today, and second, whether they think economic conditions in the country as a whole are getting better or getting worse. Results are based on telephone interviews with approximately 3,500 national adults; margin of error is ±2 percentage points.

This is just further evidence of what most know. There was a recovery in financial assets but no recovery in the real world.

Mike “Mish” Shedlock
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