US Consumer Confidence Recovers From COVID-19 Plunge To 2016 Election Level - Poll

An index measuring consumer's confidence in the US economy continued a slow recovery from an April crash due to the coronavirus pandemic measures to match levels just prior to the November 2016 presidential election, a new Gallup poll revealed on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 02nd December, 2020) An index measuring consumer's confidence in the US economy continued a slow recovery from an April crash due to the coronavirus pandemic measures to match levels just prior to the November 2016 presidential election, a new Gallup poll revealed on Wednesday.

"The index, which had been positive throughout President Donald Trump's term until March, plunged to -33 in late April amid widespread business and school closures across the country at the start of the pandemic. It has since been improving gradually and is now back to the level seen just before the 2016 election," a press release explaining the poll said.

After gradually rising in most months since April, the index is now back to minus 1, the 2016 pre-election level, the release said.

The Gallup Economic Confidence Index is based on monthly polls asking US adults to label current economic conditions as excellent, good, fair or poor, and then asking whether the economy is getting better or getting worse, the release added.

The index has a theoretical range between plus 100 - if everyone labels the economy excellent and improving - and minus 100 if everyone calls the economy poor and getting worse.

Apart from the index, Gallup said October poll showed no improvement in Americans' overall outlook, with 55 percent continuing to say the economy is still getting worse.