CHART OF THE DAY: American Economic Confidence Has Collapsed In The Past Three Days

It looks like the government shutdown is finally taking its toll on consumer confidence.

Gallup’s daily economic confidence index fell 5 points to -32 today, hitting its lowest level since August 2012.

The index recently climbed as high as 3 on May 29, but has been falling ever since.

In the rolling three-day period between September 30 and October 2, 17% per cent of respondents to the poll described U.S. economic conditions as “excellent/good” (down one percentage point from the day before) while 38% described conditions as “poor” (up one percentage point from the day before).

Meanwhile, 37% of respondents described the economic outlook as “getting better” (down one percentage point from the day before) whereas 59% described the outlook as “getting worse” (up one percentage point from the day before).

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