Poll: Economic confidence shaken by Greek debt drama

Economic confidence has remained level the last few weeks, but that stability has also covered up volatility from the debt crisis in Greece, according to a Gallup poll released Tuesday.

Gallup’s Economic Confidence Index clocked in at -12 last week, which mirrors the weekly averages since the beginning of July.

While the weekly averages remain stable, the three-day rolling averages have indicated the level of confidence in the economy has recently fluctuated.

{mosads}In early July, for example, the index clocked in at -9, dropped to -12 and reached -17 around the time Greece struck a deal to remain in the eurozone.

Gallup said the debt crisis rattled Americans, but confidence “rebounded as quickly as it fell after Greece and its creditors worked out a new deal. As a result, the index last week looks stable, even though it went on a short-term roller-coaster ride.”

Gallup’s Economic Confidence Index is the average of two things: how people view the economy and whether they feel the economy is improving or getting worse.  

Last week, a quarter of the public said the economic conditions were “excellent” or “good” and 30 percent described them as “poor.” Thirty-nine percent said the economy is improving and 57 percent said it’s getting worse.

The poll surveyed 3,551 adults between July 13 and 19 with a 2 percentage point margin of error.