The Gallup Economic Confidence Index reached its best level in the four years since the company began its daily confidence tracking. Dennis Jacobe, Chief Economist, wrote that the index reached -18 in the week that ended on March 11, a sharp jump from -25 in the previous week. The last time the index reached the -18 level was in the week that ended Feb. 13, 2011, and -18 is the highest weekly level that Gallup has reported since it began confidence daily tracking at the start of 2008.
The index is developed by averaging two components: rating by Americans' of of current economic conditions and American's perception of whether the economy is improving or worsening. The firm report both components improved in the March 11 week.
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