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CHART OF THE DAY: American Economic Confidence Has Collapsed In The Past Three Days

Matthew Boesler   

CHART OF THE DAY: American Economic Confidence Has Collapsed In The Past Three Days

It looks like the government shutdown is finally taking its toll on consumer confidence.

Gallup's daily economic confidence index fell 5 points to -32 today, hitting its lowest level since August 2012.

The index recently climbed as high as 3 on May 29, but has been falling ever since.

In the rolling three-day period between September 30 and October 2, 17% percent of respondents to the poll described U.S. economic conditions as "excellent/good" (down one percentage point from the day before) while 38% described conditions as "poor" (up one percentage point from the day before).

Meanwhile, 37% of respondents described the economic outlook as "getting better" (down one percentage point from the day before) whereas 59% described the outlook as "getting worse" (up one percentage point from the day before).

gallup daily economic confidence index

Business Insider/Matthew Boesler, data from Gallup

Gallup's Economic Confidence Index combines the responses of Gallup's Economic Conditions and Economic Outlook measures ... Daily results are based on telephone interviews with approximately 1,700 national adults; Margin of error is ±3 percentage points.

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