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Americans' Economic Confidence Declines Sharply In May
The RealClearMarkets/TIPP Economic Optimism Index, a leading gauge of consumer sentiment, dropped sharply 3.2% in May to 41.8. Since September 2021, the index has remained in negative territory for 33 consecutive months. Optimism among investors declined 15.7% from 54.9 in April to 46.3 in May, while it improved by 9.6% among non-investors, from 36.6 in April to 40.1 in May. The RCM/TIPP Economic Optimism Index has established a strong track record of foreshadowing the confidence indicators issued later each month by the University of Michigan and The Conference Board. From February 2001 to October 2023, TIPP ... (full story)
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