Gallup analysts blame the latest dip in confidence on Washington's debate over government spending. The government could shut down on Oct. 1 without a deal, and Congress faces another deadline in mid-October to raise the debt ceiling.
Unstable unemployment is also a reason for the declining confidence, the Conference Board said Tuesday in a separate report that also covered lower consumer confidence.
Economists frequently track the consumer confidence index because it’s a reliable measure of people’s optimism about the economy. Since the recession hit in 2008, the economy has been struggling, but gradually improving.