Gallup Says Rising Gas Prices Hurt Sentiment

Princeton, NJ, March 2, 2011 -- Americans have become much less confident in the U.S. economy over the past two weeks, according to the Gallup organization.

Gallup's Economic Confidence Index fell from -18 to -30 during that span. The -18 Index score from two weeks ago was the most positive Gallup had measured in the last three years.

Gallup said that the most recent Thomson Reuters/University of Michigan Index of Consumer Sentiment, based mostly on interviewing from early and mid-February, was essentially out of date when it was released. It reported sentiment was at its highest level in more than three years.

Gallup noted that the fall in confidence is likely tied to rising gasoline prices.