Bad News For Obama: Confidence In The Economy Is Plunging

Gallup’s economic confidence has plummeted for the fourth straight week. The index now stands its lowest point since January, when high gas prices rocked Americans’ confidence in the economy. 

Gallup economic confidence

Photo: Gallup

This comes on the same day that U.S. consumer confidence shrank for the fourth straight month because of concerns over continued unemployment and lack of new jobs. 

According to Gallup, the nation’s economic outlook and its rating of current economic conditions are also the lowest they’ve been since January.

All the news gave Mitt Romney a chance to hammer President Barack Obama for something other than baseball:

“Today’s report on the decline in consumer confidence is the latest in a string of poor indicators for job growth and the economy,” Romney said in a statement. “Last week, the Federal Reserve again downgraded expectations for economic growth and the labour Department revealed there are nearly four unemployed Americans for every new job opening. It’s clear that the American people know President Obama’s policies aren’t working.”

 

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