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Economic Confidence Drops Upon Government Shutdown

October 8, 2013
by candyandsnacktoday

Princeton, NJ — Americans’ confidence in the economy plummeted this past week to its lowest point since December 2011 after the partial government shutdown. According to a new Gallup, Inc. poll, the Economic Confidence Index’s three-day rolling average is at -34 for Oct. 1 to 3, down 14 points from Sept. 27 to 29.

Results show 15 percent of Americans say the economy is in excellent or good shape and 43 percent say it’s poor. Just 28 percent of the 1,500 adults surveyed say the economy is getting better, while 67 percent believe it's declining.

Prior to the shutdown, economic confidence was already beginning to waver, dropping to -19 in September, compared with -13 in August, Gallup found. The Conference Board’s Consumer Confidence Index also fell in September to 79.7 from 81.8 in August and the Expectations Index dropped to 84.1 from 89 in the month prior.

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