Skip to comments.IBD/TIPP Poll: U.S. Consumer Confidence Nosedives
Posted on 11/13/2012 11:55:56 AM PST by Arthurio
The IBD/TIPP Economic Optimism Index declined by 5.4 points, or 10%, in November, posting 48.6 vs. 54 in October. The index is 0.4 points above its 12-month average of 48.2, 4.2 points above its reading of 44.4 in December 2007 when the economy entered into the recession, and 1.3 points below its all-time average of 49.9.
Note: Index readings above 50 indicate optimism; below 50 indicate pessimism.
The IBD/TIPP Economic Optimism Index has a good track record of foreshadowing the confidence indicators put out later each month by the University of Michigan and The Conference Board. IBD/TIPP conducted the national poll of 606 adults from November 8 to November 11. The margin of error is +/-4.0 percentage points.
The IBD/TIPP Economic Optimism Index has three key components. This month, two of the three components declined.
The Six-Month Economic Outlook, a measure of how consumers feel about the economys prospects in the next six months, dropped 12.3 points, or 20.8%, to 46.8. The sub-index was 32.1 when the economy entered the last recession in December 2007.
The Personal Financial Outlook, a measure of how Americans feel about their own finances in the next six months, declined 5.0 points, or 8.3%, to 55.5.
Confidence in Federal Economic Policies, a proprietary IBD/TIPP measure of views on how government economic policies are working rose 1.1 points, or 2.6%, to reach 43.5.
"Last month economic optimism surged, mainly driven by Republican hopes of taking the White House. But optimism among Republicans fell sharply in November after Romneys loss. Also, recent stock market losses, gas prices and high unemployment are hurting confidence, said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence, IBD's polling partner.
(Excerpt) Read more at tipponline.com ...
Enjoy it, sheeple. You voted for it.
Gosh, it sure is surprising that all this bad economic news is coming out after the election.
You’d almost think we were being manipulated.
Bigger than that. If everyone is that unhappy,,, howin the heck did Obama get back in? Sure it takes a while for the news to hit us, but, you would think the people would marry this with the unemployment and place the blame where it belongs...
I believe this also points to the Obama fraud perpetrated on us and in the meanwhile he - Barrack Hussein Mohammed Obama is hiding behind all the other sideshows.
We been hustled by a nigerian conman, Mr. 4-19, Barrack Hussein Mohammed Obama.
The economy is on double secret probation! AAAAAHHHH!!!
Can’t think of any reason why confidence in anything would be down?
Hope n’ change! Hope n’ change!
The “People” just endorsed another 4 years of the same, and got what they wanted. So how in the world can they now say that their ‘confidence’ is “low”?
It should be Party Time! The Grasshoppers won!
The Ants have been defeated!
Gee I wonder why?
Who cares? Our side lost. To hell with polls. They are useless.
yeah, well the prospect of a $39 Papa Johns Pizza will do that to you...
He has already kissed half of America to sleep....
Make your own darn pizza. I haven’t bought a store pizza since I found out how easy it is to make your own.
Wow! I'm so excited I could just sh*t!!!