US economic confidence down slightly last week

The US public's outlook for their country's economic prospects dimmed slightly in the past week, evidence of the tepid economic recovery, according to a Gallup poll released on Tuesday. Gallup's U.S. Economic Confidence Index declined slightly to minus 19 for the week ending Oct. 21, from minus 17 the week earlier. Among the surveyed, 15 percent believed that the economy was excellent or good, while 41 percent considered it poor. Despite the slip, this was little changed from the trend since the week of Sept. 3, when confidence significantly improved from one of the lowest points of the year, the poll revealed. The slight pullback in economic confidence last week was triggered by a modest decline in both components of the index -- one assessing current economic conditions and the other gauging the nation's economic outlook.