Poll: Economic confidence remains low

Economic confidence has remained flat since early May, according to a Gallup poll released Tuesday.

Last week, Gallup pegged the Economic Confidence Index at -8, which is one of the lowest scores this year.

For the last nine weeks, Gallup said the index has averaged between -5 and -9, following more positive readings at the beginning of the year.

{mosads}Between late December and late February, for example, the index entered positive territory for the first time since the recession hit in 2008. Gallup attributes the rising confidence level to falling gas prices at the time.

Gallup’s Economic Confidence Index is the average of two factors: how the public views the current economy and whether people feel the economy is improving or getting worse.

Last week, 24 percent of people described the economy as “excellent” or “good” while 29 percent said it is “poor.” Forty-two percent said the economy is improving while just over half of people said it’s getting worse.

The new figures come as The Conference Board, an industry group, also released a report Tuesday that found consumer confidence improved in June, helped by a strengthening jobs market.

The Gallup poll surveyed 3,531 adults between June 22-28 with a 2-point margin of error.