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U.S. Standard of Living Index Sinks to 10-Month Low
Friday, October 18, 2013 9:25 AM

The Gallup's Standard of Living Index has reportedly tumbled eight points in the past month to 31, its lowest reading since January.

The index is a summary of whether Americans are satisfied with their current standard of living and perceive it as getting better or worse. Although the index has a theoretical maximum of 100 (and a theoretical minimum of -100), the highest it has been since tracking began in 2008 is 45, which Gallup reports was attained in May 2013.

The recent decline echoes sentiments seen in Americans' broader attitudes about the U.S. economy, although the magnitude in the decline in the Standard of Living Index is not as great. Gallup's Economic Confidence Index faltered during the run-up to the government shutdown in late September, and has fallen further in October since the shutdown began, for a total decline of 24 points since mid-September.

Both components of the Standard of Living Index have soured since mid-September; however, the decline in Americans' outlook for their standard of living has been steeper, dropping nine points, compared with a six-point drop for current satisfaction.