WASHINGTON – The U.S Economic Confidence Index saw a slight improvement for the week of Sept. 20. The index is based on the combined responses to two questions — the first asking Americans to rate economy in the U.S. today, and the second asking whether they think economy in the country as a whole are getting better or getting worse.
The index was at -12 up slightly from -17, meaning that a majority of people surveyed believe the economy is poor and getting worse.
The index has a theoretical maximum of +100, if all Americans were to rate the economy as “excellent” or “good” and “getting better,” and a theoretical minimum of -100, if all Americans were to rate the economy as “poor” and “getting worse.”
The recent pessimism appears to be related to the recent stock tumble and trouble in the Chinese economy.
During the week, 24 percent of Americans surveyed said the economy was excellent or good while 30 percent said it’s poor. Fifty-seven percent said the economy is getting worse while 39 percent believed it was getting better.
Though numbers were slightly improved last week, the economic sentiment reflected by the index remains firmly in negative territory, and has not improved after remaining negative all summer.
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