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Consumer confidence up as gas prices fall

PRINCETON, N.J., Aug. 15 (UPI) -- Falling gas prices have lifted U.S. consumer confidence, although most still indicate they hold a pessimistic view of the general economy, researchers said.

"The change in consumer confidence is not a major shift," Gallup Poll researchers said in a statement.

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Nine percent of adults in the most recent poll indicated they felt positive about the U.S. economy, while 19 percent indicated mixed views and 70 percent indicated negative views.

While that sounds grim, the figures are an improvement since July, Gallup said.

In a July 14-16 survey, 83 percent of the respondents indicated negative views of the U.S. economy, Gallup said.

Researchers also said there was "a very high correlation between overall economic mood and the average price of regular gas this year."

"The downward swing in the percentage of Americans with a negative economic mood in recent weeks has closely matched the downward swing in gas prices," Gallup said.

The recent poll includes data compiled through 1,500 phone interviews and includes a margin of error of plus and minus 2 percentage points, Gallup said.

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