Poll: Economic confidence static

Economic confidence has not improved over the last few weeks, according to a Gallup poll released Tuesday.

The Economic Confidence index registered a -9 rating by the end of last week, two points down from the previous week.

Gallup’s index has been in negative territory for the last 14 weekly ratings. It had fallen back into negative territory in mid-February after remaining in positive territory for two months starting in December.

{mosads}The weakening level of confidence could be tied to a jump in gas prices over the Memorial Day weekend, Gallup said.

Gallup’s index is is the average of two components: people’s views of current economic conditions and their perceptions of whether the economy is improving or getting worse.

Last week, 23 percent said the economy is excellent or good while 29 percent described it as poor. Forty-two percent said the economy is improving while 53 percent said it’s getting worse.

The poll surveyed 3,557 adults between May 18 and 24 with a 2 percentage point margin of error.