Latest Gallup Poll numbers on economic confidence:
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"Some of the latest economic measures suggest that, after an initial surge following the terrorist attacks, public confidence in the economy has now declined to its pre-Sept. 11 levels. A Gallup poll conducted Sept. 7-10 showed just 32% of Americans rating economic conditions as excellent or good, the lowest level since May 1996. The next week, in the wake of the terrorist attacks, the percentage jumped to 46%, comparable to the ratings given the economy six months earlier. An Oct. 11-13 poll showed the percentage dropping to 39%, while a Nov. 8-11 poll shows another decline, to 31% -- just a point under the pre-attack level.
"The latest Gallup poll also shows that 30% of Americans say the economy is getting better, while 59% say worse. These numbers represent a slight decline in sentiment since last month, when a Gallup poll showed 33% of Americans saying better and 55% worse. Still, these are much better figures than those recorded in early September, right before the terrorist attacks, when only 28% said the economy was getting better and 70% said worse.
"Both the monthly consumer confidence index of the Conference Board, and the ABC News/Money magazine's weekly consumer comfort index indicate that public confidence in the economy is now below the pre-Sept. 11 levels. In October, the consumer confidence index fell 11.5 points, to 85.5, the lowest level since February 1994. Similarly, the consumer comfort index fell to -5, the lowest level since March 1997.
"According to the Nov. 8-11 Gallup poll, the number of people who believe the U.S. economy is in a recession has increased, from 49% last month to 59% this month. Right before the terrorist attacks, 51% expressed this view."
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The continuing erosion of the employment base in this country, unfortunately, will keep rearing its ugly head well into 2002. |
