Gallup: Consumer Confidence Wilts As Summer Proceeds

Consumer confidence in the economy has slipped this summer, according to Gallup. In June, the reading reached -3, the high point for the year, but slipped to -12 in July, the same rating as in May.

Still, the -12 reading is as good or better than the sentiment Gallup recorded for most of 2013.

In the last week recorded by Gallup before its July 23 survey announcement, 43% of Americans said the economy is getting better while 52% said it is getting worse, for a net economic outlook score of -9.

Gallup noted that stock price gains in the United States have impressed consumers enough to lift their confidence in the economy in the way they did in late May and early June. At the same time, higher gas prices, a less than robust job market and rising mortgage rates could represent factors worrying the majority of consumers, Gallup suggested.