Rebecca Shabad of The Hill reports:
Economic confidence has been holding at a seven-month low, according to a survey released by Gallup on Tuesday. The Economic Confidence Index averaged -8 in June, which Gallup said is statistically tied with May’s -7 reading.
Gallup’s latest figures are keeping the index at the lowest monthly reading since November.
And, one needs to keep in mind that these findings do not reflect consumer reaction to the news from Greece which finally did run out of other people’s money and China where the stock market is cratering with losses measuring in the trillions.
So it is not encouraging that:
In June, 42 percent of people said the economy is getting better and just over half said it’s getting worse. A quarter of people described the economy as “excellent” or “good” and 29 percent called it “poor.”
One also needs to remain patient. Recovery takes time.