U.S. economic confidence changed little in SeptemberStaff Writer | October 6, 2016
The modest improvement in Americans' economic confidence first evident after the Democratic National Convention continued for a second consecutive month.
America The index began the year close to its current level
The index began the year close to its current level, with January's score at -11. Confidence fell from -10 in March to -14 in April amid rising gas prices and reports of slow economic growth in the first quarter. The index slipped to -15 in July, nominally the worst reading since September 2014.
But despite its relatively low monthly average, confidence rebounded in the final week of July. As the Democratic Party assembled in Philadelphia for its July 25-28 national convention, Democrats' confidence in the economy rallied and the July 25-31 weekly average increased by six points to -10.
Although the August and September monthly economic confidence averages represent an improvement from the index's recent slump, they remain below the post-recession high of +3 recorded in January 2015.
Long-term economic confidence has broadly improved since October 2008, when it fell to a record low of -60. But, much like the economy itself, Americans' recovering confidence in the economy has not always been smooth, with several sharp drops in August 2011 (-52) and October 2013 (-35), even as the general trend has been one of upward movement.
For the week of Sept. 26-Oct. 2, confidence in the economy improved slightly, with the index's weekly average climbing from -12 to -9. ■