Still, the data indicates Americans have more negative than positive feelings about the economy. Poll: Spike in economic confidence

One measure of Americans’ confidence in the economy saw its largest weekly jump ever last week.

Gallup’s Economic Confidence Index’s weekly average rose 11 percentage points to -18, marking the sharpest increase since the polling organization began daily tracking in 2008. The index’s all-time high point is -16, reached in May of this year.


The index had languished at nearly -30 since mid-July, then jumped after a week that featured both the Democratic National Convention and a weak jobs report. On Friday, the Bureau of Labor Statistics reported fewer than expected jobs were created in the month of August; interviews that comprised last week’s index were conducted from Monday to Sunday.

The jump could prove troublesome for Republican presidential candidate Mitt Romney, whose campaign is asking voters to determine whether they are better off than they were four years ago (when the index hovered around -60.) Last week’s result includes a 13-point confidence increase among self-described independents, Gallup reports, while confidence jumped 17 points among Democrats and 1 point among Republicans.

Still, the data indicates Americans have more negative than positive feelings about the economy. And while the index has approached a similar level a few times over the last four years, it has never come close to breaking even.

The results are based on interviews with 3,330 adults and have a margin of error of plus or minus two points.

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Gallup Poll