Tags: Gallup | Economic | Confidence | DC

Gallup: Economic Confidence Highest in D.C.

Tuesday, 07 February 2012 07:25 AM

Those most confident over the fate of the economy live in Washington D.C., while those least confident live West Virginia, a Gallup poll shows.

After D.C., North Dakota, Minnesota, and Nebraska were the most optimistic.

After West Virginia, the most pessimistic states included Maine, Oregon and Rhode Island.

Politics didn't play a factor.

"There are no clear patterns in the states that rank in the top and bottom 10 in economic confidence. For example, the top 10 states vary by region and political leanings," Gallup says.

Nationally, the Economic Confidence Index was minus-37 in 2011, down from minus-28 in 2010, showing the pessimists were gaining, which doesn't bode well for the president.

"Americans overall and in every state remain more negative than positive about the economy, creating a challenge for President Obama as he seeks re-election this year, given the strong relationship between economic conditions and an incumbent's re-election success," Gallup reports.

Gallup's figures echo other polls that show confidence is waning in the U.S.

The highly followed Conference Board Consumer Confidence Index, which increased in December, retreated in January.

The index now stands at 61.1, down from 64.8 in December, the Conference Board reports.

"Consumer Confidence retreated in January, after large back-to-back gains in the final two months of 2011. Consumers' assessment of current business and labor market conditions turned more downbeat and is back to November 2011 levels," Lynn Franco, Director of The Conference Board Consumer Research Center, says in a statement.

"Regarding the short-term outlook, consumers are more upbeat about employment, but less optimistic about business conditions and their income prospects. Recent increases in gasoline prices may have consumers feeling a little less confident this month."

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