Americans’ already low economic confidence drops: Gallup

According to a new Gallup poll, Americans' confidence in the economy has plunged to a new low, perhaps the lowest since the conclusion of the Great Recession in early 2009.

In May, Gallup's Economic Confidence Index (ECI) was -45, down from -39 in the previous two months.

On a theoretical scale of +100 to -100, the index is a summary of Americans' assessments of current economic conditions and whether the economy is improving or deteriorating.

It considers the net of exceptional versus good versus poor responses.

In April, 20% of Americans thought the economy was good, while 42% said it was bad, for a net of -22. This month, the net plummeted even more to -32.

During the Great Recession, the lowest ECI was reported in 2008, at -72.

Furthermore, only 14% of respondents said economic circumstances were "great" or "good," while 46% said they were "bad." Another 39% said they were "just fair."

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