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.