In spite of a manufacturing ISM in positive territory for 15 consecutive months, a Gallup Survey shows Economic Confidence at -16, Economic Outlook at -18.
Gallup's Economic Confidence Index is the average of two components: how Americans view current economic conditions and their perception of whether the economy is getting better or worse. In August, 20% said the economy is "excellent" or "good," while 34% said it is poor. This resulted in a current conditions index score of -14, the same current conditions score found for five consecutive months.Gallup Economic Confidence and Current Conditions
Economic outlook has varied a bit more over the past six months, ranging from -14 to -19, although still a much narrower range than in previous years. In August, 38% of Americans said the economy is getting better, while 56% said the economy is getting worse. This resulted in an economic outlook score of -18, similar to the -19 in July.
The economy is is getting better for some, but more say it's getting worse. In aggregate, people do not buy this recovery talk. Should they?