The IBD/TIPP Economic Optimism Index gained 5.3 points, or 12.6%, in October, posting a reading of 47.3 vs. 42.0 in September. The index is 0.7 points below its 12-month average of 48.0, 2.9 points above its reading of 44.4 in December 2007 when the economy entered the last recession, and 1.8 points below its all-time average of 49.1. 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 ... (full story)