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Confidence in the economy is shaken

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Gallup reported Tuesday that Americans' confidence in the economy slumped to a low not seen since 2013.

The polling company, which has facilities in Princeton, said its U.S. Economic Confidence Index fell six points last week to a score of -21, the largest one-week drop since October and the lowest score since December. Back in 2013, economic faith was still recovering from the partial government shutdown in October, Gallup said in a news release.

Gallup also said the six-point drop was unusual for its size: the index had not fluctuated by more than three points over any two weeks this year.

Fears about the future fueled the drop in confidence, as the economic outlook component of the index fell eight points from the previous week, to a score of -25. The current conditions score of -16 was a four-point drop.

Gallup also found that only 19 percent of Americans felt like the economy was currently “excellent” or “good,” while 35 percent said it is “poor.”


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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com.

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