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January 08, 2013

New Gallup poll finds economic confidence down after cliff deal

People have grown less optimistic about the direction of the U.S. economy, according to a Gallup poll released Tuesday.

"As lawmakers in Washington strained to finalize a deal to avert the fiscal cliff, Americans became less confident in the economy. And their confidence remains lower even after Congress passed and President Obama signed into law a bill that successfully staved off the fiscal cliff," a poll analysis said.

"Now that the deal is done, it is possible that Americans will start to feel better about the economy in the days and weeks ahead. However, lingering concerns could keep confidence from improving much, as happened in September and October 2011, after the debt ceiling debate."

The poll, taken last week during the debate and deal over avoiding the fiscal cliff, found "Americans' lower economic confidence is due to worsening views of current conditions and a souring outlook for the future. The -18 economic outlook rating is down significantly from -1 in early November, with 39% of Americans now saying the economy is getting better and 57% saying it is getting worse."

Sixteen percent of Americans thought the economy was excellent or good and 40% called it poor, creating a -24 current conditions rating, down from -18 in early November.

To read more about the poll: http://www.gallup.com/poll/159734/economic-confidence-remains-low-post-fiscal-cliff-deal.aspx

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