According to the just-released 2014 Gallup Economic Confidence Index, the areas that lead the U.S. in economic confidence are the two “metropolitan statistical areas” (MSAs) that ring the San Francisco Bay.

The communities typically referred to as Silicon Valley (San Jose-Sunnyvale-Santa Clara) registered +12 while their neighboring Bay communities (San Francisco-Oakland-Hayward) registered +9.

Both scores are increases from 2012-2013, and the two areas now notably surpass the index score in the Washington, D.C., metro area (+5).

Other areas to register positive index scores are Minneapolis and its surrounding areas, Miami-Fort Lauderdale-West Palm Beach and Raleigh, North Carolina.

The results are based on Gallup Daily tracking conducted throughout 2014 in the 50 most populous MSAs.

“Although the index is a measure of how Americans see the national economy faring, the different scores from city to city suggest that many Americans judge the state of the country’s economy by how well their local economy is performing,” according to Gallup.

top metro economic confidence

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lowest confidence metro areas

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Highlights of the 2014 Gallup Economic Confidence Index

  • The survey indicates a general positive trend of strengthening economic confidence among the country’s largest metropolitan areas.
  • The average Economic Confidence Index score for the top 50 MSAs was -10, compared with -15 for the entire U.S.
  • The Raleigh MSA saw the largest improvement in its index score from 2012-2013, improving 10 points from -9 to +1 in 2014. In 2012-2013.
  • Only three metro areas rated the national economy well enough to have a positive Economic Confidence Index score compared with six in 2014.
  • Many of the highest index scores are in areas that have a concentration of industries and jobs related to science, technology, engineering and math (STEM).
  • The areas with the lowest index scores among the top 50 MSAs are Memphis, at -24, and Birmingham-Hoover, Alabama, at -26. These scores are well below the average index score for the top 50 MSAs, and also trail the national score by a wide margin.
  • Birmingham saw the biggest drop in confidence in 2014 relative to its 2012-2013 standing, with its index score falling by seven points.
gallup survey of economic confidence in 2014

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(Photo: Germán Poo-Caamaño via Flickr, CC BY 2.0)

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