Americans’ confidence in the economy has become less rosy this month as Gallup’s Economic Confidence Index fell to +17 from August’s +24 reading, marking the lowest level since the government shutdown ended in January.
At the same time, the public is evenly divided over the likelihood of a recession in the next year. The current expectation of a recession is nine points higher than it was in October 2007, just two months before the Great Recession began but slightly below a February 2001 reading, one month before that eight-month-long recession.
- 49% in U.S. think a recession is at least fairly likely in the next year
- Economic Confidence Index +17 in September, down from +24 in August
- 50% say economy is fair or poor and 48% say it’s getting worse
Chosen excerpts by Job Market Monitor. Read the whole story atEconomic Confidence Drops to Lowest Level Since Shutdown