Gallup Says Economic Confidence Rising

The latest Gallup poll of around 3,500 Americans indicates that US confidence in the nation’s economy is rising, but that it still remains low. The Economic Confidence Index now stands at -38, about 10 points lower than the reading in each of the last two Decembers, and 20 points higher than the -59 reading in December of 2008.

The index is based on respondents’ perceptions of both current economic conditions and their perceptions of the overall economic outlook. While the view of conditions is rising slightly, the number of respondents who think the outlook is better is rising sharply.

If this trend continues, and especially if the view of current conditions rises more, that could be good news for the Obama administration heading into next year’s elections.