Gallup: Economic Confidence Hits New Low for 2012

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12:29 PM, Jul 17, 2012 • By MICHAEL WARREN

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A new index from Gallup shows America's confidence in the economy is at its lowest level since January of this year. Confidence is higher than it was throughout 2011, but the spike this year appears to be on a downward trend:

Gallup also notes that the drop in confidence is driven mostly by self-described Democrats:

Economic confidence fell nine points among Democrats (from +13 to +4), compared with a two-point drop among Republicans (-54 to -56), while independents' confidence rose slightly, from -30 to -27. Despite this, Democrats remain the most upbeat about the economy -- as is expected under a Democratic president -- while Republicans are substantially negative and independents fall roughly in between.