Americans have grown more pessimistic about the outlook for the U.S. economy with the lapse of unemployment benefits even as the latest Covid wave has slowed the jobs recovery. Although the pandemic is now on the wane, investors have turned less bullish amid inflation worries and the Dow Jones’ first monthly drop since January, the October IBD/TIPP Poll finds.
The IBD/TIPP Economic Optimism Index, an early monthly read on consumer confidence, slipped deeper into pessimistic territory, falling 1.7 points to a 13-month-low 46.8. Readings above the neutral 50 level reflect optimism. CONTINUED
Jed Graham, Investor’s Business Daily
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