Americans' Confidence In US Economy Inches Upward But Remains Negative - Poll

Americans' Confidence in US Economy Inches Upward But Remains Negative - Poll

Pessimism over US economic conditions eased slightly in February while remaining in negative territory, Gallup's Economic Confidence Index showed on Thursday

WASHINGTON (UrduPoint News / Sputnik - 25th February, 2021) Pessimism over US economic conditions eased slightly in February while remaining in negative territory, Gallup's Economic Confidence Index showed on Thursday.

"An eight-point increase to -13 [minus 13] this month puts the index at its best reading since November," Gallup said in a press release.

The current -13 reading is up from -21 in January and is better than the -33 low from the spring of 2020. The lowest point, -72, was during the Great Recession in October 2008, Gallup said.

The index is based on polls asking Americans to rate economic conditions as excellent, good, only fair, poor and also whether the economy is getting better or worse, the release said.

The combined responses are used to compile the index, with a theoretical range of plus 100 if everyone says the economy is excellent or good and getting better, to minus 100 if everyone says the economy is poor and getting worse, according to Gallup.