Americans' confidence in the U.S. economy varied in August but was not remarkably different from economic attitudes in July. Gallup's economic confidence index (ECI) was plus 6 in August, just slightly higher than the plus 4 recorded in July. Though 2017 has generally been a strong year for the ECI, the index stagnated in recent months.
From May through July, confidence averaged no higher than plus 4 on a monthly basis -- down from January's record high of plus 11 -- and no better than plus 5 on a weekly basis. As August began, economic optimism appeared to be on the rise again. In the third week of the month, the ECI reading was plus 11, the highest weekly score since mid-March. However, the index then retreated into single digits again.
In August, 35 percent of Americans described current economic conditions as "excellent" or "good," while 21 percent assessed them as "poor." Overall, the current conditions component stood at plus 14 for the month, slightly better than July's plus 11 and the highest monthly average for this component since 2008.