Poll: U.S. economic confidence shows record drop

Americans’ evaluations of the economy have abruptly turned negative amid the coronavirus pandemic. Gallup’s Economic Confidence Index is now -32, down from +22 in March.

The 54-point drop is the largest one-month change in Gallup’s trend dating back to 1992, and it comes on the heels of last month’s 19-point drop, which had been one of the largest monthly declines to date…

Although the current figures represent the largest short-term decline, economic confidence remains higher now than it was during the Great Recession. The Economic Confidence Index was -72 in October 2008, just after the financial crisis started. The index has a theoretical range of +100 to -100.

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