Gallup's Economic Confidence Index is -8 for June, similar to -7 in May

According to a recent Gallup Poll, Americans' confidence in the economy held steady in June, despite U.S. stock prices registering a monthly decline for the first time this year. The results for June are based on Gallup Daily tracking interviews, conducted by landline and cellphone, with more than 15,000 Americans.

Gallup's Economic Confidence Index is based on two components: Americans' assessments of current economic conditions in the United States and their perceptions of whether the economy is getting better or worse. Americans remain more negative than positive toward the U.S economy's current state and future momentum.

Gallup's Economic Confidence Index averaged -8 in June, on par with -7 in May -- the highest monthly score since Gallup began tracking economic confidence daily in January 2008.

While U.S. stock prices declined in June, the Dow and S&P still had their best performances in the first half of the year since the late 1990s. Higher stock prices this year and increased optimism about housing prices have likely contributed to Americans' growing confidence.

Sue Hodge

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