Gallup Economic Confidence Index Falls 7 Points in May to -45
The reading is the lowest since October 2022, and the measure has dropped 25 points over the past three months, according to the source.
Fact Check
The Gallup News article confirms economic confidence is the weakest since 2022. The Kobeissi Letter X post explicitly cites the -7 point May drop to -45 (lowest since October 2022) and the -25 point decline over three months. Investment News corroborates the -45 figure. All key numbers align.
Summary
American economic confidence weakened sharply in May, with the Gallup Economic Confidence Index declining by 7 points to -45. The source says this is the lowest level since October 2022. Over the past three months, the index has fallen by 25 points, indicating a rapid deterioration in public sentiment about economic conditions. The source also notes that the 2022 trough was -57, providing historical context for how current confidence compares with the earlier low.
Terms & Concepts
- Economic Confidence Index: A sentiment gauge that measures how people view current economic conditions and the direction of the economy.