A monthly poll of economic optimism conducted by Investor’s Business Daily and TIPP, the polling arm of TechnoMetrica Market Intelligence, has signaled pessimism since October of 2012. The most recent release though was cause for concern. Any response below 50 signal’s pessimism and the most recent came in at 38.4, the fourth lowest ever.
And today, the University of Michigan Consumer Sentiment survey was released. The survey continued its three month plunge as Americans became even less enthusiastic about their situation. It’s hard to imagine the economic momentum picking up if pessimism continues to win out in these polls.