IBD/TIPP Economic Optimism Index: April 2008
Posted Tuesday, April 08, 2008 4:30 PM PT
The IBD/TIPP Economic Optimism Index fell 3.3 points, or 7.8%, to 39.2 in April. That's the lowest reading ever and the first time the gauge has been below 40. A reading above 50 indicates optimism; below that, pessimism. Despite a stock market rebound, the optimism gauge was dragged lower by the subprime mortgage meltdown and declining home sales, a rise in unemployment to 5.1%, and a jump in gas prices to almost $4 a gallon. All three of the index's subcomponents fell sharply.
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