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Consumer optimism higher in IBD/TIPP poll | The Money Times

Money Matters - Simplified

Consumer optimism higher in IBD/TIPP poll

Los Angeles -- The three-part IBD/TIPP Economic Optimism Index rose 0.3 points in November, Investor's Business Daily said.

The monthly index compiled from a survey of a minimum of 900 randomly selected adult consumers taken in the first week of each month rose from 46.4 to 46.7 in November and now stands 0.2 points above its 12-month average of 46.5, IBD reported Tuesday.

The headline IBD/TIPP index is a composite of three component questions, including a forecast of the economy six months down the road, a six-month forecast of personal finances and a measure of confidence in federal economic policies.

In November's survey, respondents indicated increased optimism about the economy in the next six months, with that index rising 0.4 points to 50.
Respondents indicated less optimism about their personal finances over the next six months with the component index dropping 1.2 points to 51.9.

The index measuring optimism about federal monetary policies rose 1.8 points to 38.3.

"The recent gains in the stock market, the Fed's aggressive monetary policy, 150,000 new jobs in October, Republicans' vow to cut spending are all helping to sustain confidence," TIPP President Raghavan Mayur said in a statement.

TIPP is a division of TechnoMetrica Market Intelligence, which conducts the poll along with IBD.

IBD/TIPP does not release the survey's margin of error.

Copyright 2010 United Press International, Inc. (UPI).

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