Americans’ recently improved confidence in the U.S. economy held firm last week as Gallup’s Economic Confidence Index averaged +14, similar to +13 one week earlier. The latest results, based on Gallup Daily tracking from Jan. 23-29, span the first full week of tracking during President Donald Trump’s administration.
Notice the jump since the 2016 election results?
Gallup’s three-day rolling averages show that confidence was a bit stronger earlier in the week than it was toward the end of the week. Gallup’s index averaged +18 from Jan. 23-25, essentially tying the highest three-day average in Gallup’s trend (+19), recorded Jan. 21-23.
However, by the end of the week, the index had tapered back to +10, similar to where it has been since mid-January. This slight decrease coincided with a lackluster report from the Bureau of Economic Analysis, which estimated 2016 to be the 11th consecutive year of less than 3% growth in U.S. gross domestic product.