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You are probably wondering, is there an index that measures consumer optimism and pessimism? The answer is yes. It is the Investor's Business Daily and TechnoMetrica Market Intelligence or IBD/TIPP.Their Optimism Index slipped to 46.8 in December, from 47.9 in November. Readings above 50 indicate optimism, while those below 50 indicated pessimism.
The index is now 3.2 points below its 12 month average of 48 and 2.4 points above its reading of 44.4 in December 2007, when the recession began.
The factors causing pessimism among Americans include our huge deficit and the weak dollar. Even though the economy is showing some signs of growth, pessimism persists because of our high rate of unemployment.
Looking forward six months, the economic outlook component was down 2.5 points at 46.7 from 49.2 in November.
This is especially troubling to merchants going into the holiday season when 1/3 of their income is generated in the last few weeks of the year.
The Obama administration is unveiling a plan for job creation. Whether this will change Americans' perception about the economy remains to be seen.
Do you see the economy growing next year?
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Reader Comments (Page 1 of 1)
12-08-2009 @ 9:44PM
Peter Van Schaik said...
Yes, I see the economy growing next year. It may be a weak recovery with corporate profits hard to find, pushing the stock market below the March lows, but things will improve. And, if you are one of the 130,996,000 with a job, you will still be able to pick up some sweet deals on a lot of cool stuff. http://jpetervanschaik.googlepages.com