Americans’ confidence in the economy has reached a five-year weekly high, according to Gallup’s weekly tracking index.
This week’s reading matched a five-year high set the week ending Feb. 3. It comes just a week after The Conference Board’s April Consumer Confidence survey showed a huge surge to 68.1 from last month’s upwardly-revised 61.9 reading.
The current confidence score in Gallup’s confidence reading is -8, which was a surge from -13 the previous week. The index has reached as low as -22 this year.
Monthly economic confidence in April also matched a five-year high, coming in at a marked improvement over March’s reading, which was likely low because of the budget sequester.
“The recovery in April to the levels seen in January and February suggests the impact of the sequester may have been offset by the gains in stock values,” Gallup associate editor Alyssa Brown wrote.
Here’s a chart from Gallup:
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