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November 13, 2012

Economic confidence trending up, Gallup says

People are a little more confiden about the economy, a new Gallup survey shows, as the holiday shopping season begins and Washington lawmakers try to avoid the "fiscal cliff."

"Economic confidence continues to improve but still needs to make gains to reach positive territory. The election results did little to change the immediate post-election evaluations of the economy," a Gallup analysis said Tuesday.

Its outlook:

"Events besides politics will play an important role in economic confidence as the year comes to a close. Fears of America's looming fiscal cliff and Europe's continued struggles to recover have slowed trading in recent weeks, which may dampen the recent improvement in economic confidence."

But, Gallup said, "holiday sales that meet or exceed expectations and continued improvements in the unemployment rate could bolster opinions of the economy, with continued gains seen into 2013."

To read the report:http://www.gallup.com/poll/158738/economic-confidence-continues-improve-november.aspx

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