Economic confidence highest since July 2013

Economic confidence in October registered at the highest level since July 2013, according to a survey Gallup released Tuesday.

Last month, the index average clocked in at -12. That’s the most positive score in more than a year.

While it doesn’t match the record high of -7 in May 2013, it’s nowhere near the -58 Gallup measured at the beginning of 2009, shortly after the recession hit.

The confidence index jumped three points from September, which is the largest monthly increase so far this year, Gallup said.

{mosads}Gallup noted the confidence level received a boost of two weekly readings of -10 in the run-up to Election Day.

The confidence index is the average of the public’s views of current economic conditions and whether they believe the economy will improve or worsen.

Less than a quarter of the public last month said the economy was “excellent” or “good” while nearly a third said it was “poor.” Forty-one percent also said the economy is improving, but more than half said it’s getting worse.

Confidence among Democrats and independents jumped up six index points from September to +20 and -15, respectively. The level among Republicans, meanwhile, was much lower at -37.

Despite the positive news, voters have reported in recent surveys that they’re still dissatisfied with the economy. Experts say that’s partly due to wage stagnation and also because there’s a lag before voters recognize economic gains. 

The results are based on telephone interviews with 15,168 adults throughout October with a margin of error of plus or minus 1 percentage point.