Americans' economic confidence continued to improve in December with Gallup's Economic Confidence Index reaching -38 as consumers expressed more optimism than at any time since June, according to Gallup’s website.
U.S. economic confidence plummeted in August as Washington battled over extension of the federal debt ceiling with the Index reaching -52. At that point, consumer confidence was at its worst since February 2009. Since then, the Index has improved steadily but has not recovered to earlier 2011 levels.
Weekly economic confidence improved throughout December, reaching -34 during the week ending Jan. 1, 2012. This is its best weekly level since the week ending July 10. Still, economic confidence remains worse than the -26 of that same week one year ago. However, consumers remain less confident than they were earlier in 2011 and in December of the prior two years.
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