Two Weeks Of Government Shutdown Have Helped Erase Two Years Of Consumer Confidence Gains

Gallup’s latest reading of its daily economic confidence index is at -41, down 40 points from a peak of -1 reached in late May.

Half of the drop from May’s peak to today’s levels has happened in just the past two weeks, since the government shutdown started on October 1.

At -41, the index is at the lowest level since December 12, 2011 — almost two years ago. In other words, two weeks of government shutdown has helped erase two years of gains in consumer confidence.

Only 28% of those polled by Gallup say the economic outlook is getting better, whereas 67% say it’s getting worse.

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