It appears the faithful are losing belief… Gallup reports that Democrats economic confidence has faded to its lowest since January (less than half the levels of confidence when President Obama unleashed his 2nd term).
Despite exuberance conference board (government sponsored) surveys of confidence (and seasonally adjusted happiness in PMIs and ISMs), Gallup notes U.S. Economic Confidence Index remained flat in June having hovered at this lower level for most of the year (with no post-weather rebound).
The outlook also remains dismal – hovering at its lowest since Dec 2013 with only 39% of Americans saying the economy is getting better and 56% saying it is getting worse.
As Gallup concludes,
The party differences in economic confidence could become especially important as midterm elections approach in November. As a whole, Americans still appear to be wary about the economy, and it may take more consistently good economic news for their economic confidence to grow.
via Zero Hedge http://ift.tt/1kbxumu Tyler Durden