In recent days, headlines have screamed of economic doom. Yet our RealClearMarkets/TIPP survey tells a more grounded story: consumer confidence weakened, but there’s no sign of panic in the data.
The RealClearMarkets/TIPP Economic Optimism Index, a key gauge of consumer sentiment, declined from 49.1 in April to 47.9 in May, representing a 2.4% decrease. After hitting a 40-month high of 54.0 in December, the index eased to 51.9 in January and 52.0 in February before falling below the 50.0 threshold in March. May's reading of 47.9 marks the third consecutive month in the pessimistic zone. Since President Trump’s re-election in November 2024, the index remained optimistic until February.
May’s reading of 47.9 is 2.6% lower than its historical average of 49.2.
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