Americans Less Optimistic, Poll Finds

A Gallup poll of Americans last weekend found a new pessimism about the economy, with 48% saying it’s getting worse and 39% saying it’s getting better. It was the first time in four years that a plurality held a negative view of the economy. What Gallup called a “rather dramatic shift” followed a rash of downbeat assessments and was consistent with a report of weakening consumer confidence. Meanwhile, the Labor Department reported that new claims for state unemployment insurance dropped last week but remained at a level that indicates the red-hot labor market is cooling. And the Federal Reserve reported that borrowing by U.S. consumers increased at a slower annual pace in October, a sign Americans were more cautious about spending as the holiday season neared.