In the month of January, U.S. economic confidence matched its five-year high set back in November of last year, according to the latest data from Gallup. The Gallup economic confidence index rose to a reading of -13 in January from a reading of -17 in December.
When viewed by political party affiliation, Democrats posted an economic confidence score of +20, while Republicans posted a score of -56 and independents posted a score of -21.
By income group, upper-income Americans posted an index reading of -7, compared with a reading of -14 put up by middle- and low-income respondents.
On a weekly basis, the economic confidence index posted a five-year high of -9 for the week ended January 27.
Gallup’s data is in line with most other measures of economic sentiment. Momentum from equity markets, an improving housing market and a temporary break in wrangling over the U.S. debt ceiling and deficit are all working to build up U.S. consumer confidence.
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
