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Economic Optimism bounced back after three straight months
of decline. Up 2 points, or 3.8%, from last month's score of 52.8,
the Index stands at 54.8 in May and back to where it dropped off
from in March.
The
three components making up the Index showed the following movement
this month:
- The
6-month economic outlook rose 1.9 points (+3.7%) to 52.4, just
hovering above the neutral point.
-
Although it slipped again this month, the 6-month personal financial
component still maintains its optimistic edge. The component
slipped a slight 0.4 points, -0.7%, from 60.3 in April to 59.9
in May.
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The federal policies component bounced back this month as 288,000
more jobs emerged in April and the tax cuts seem to be taking
effect. The component picked up 4.6 points, or +9.6%, to go
from a pessimistic score of 47.7 in April to 52.3 in May.
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This month 18 of the 21 key demographic groups tracked by TIPP
felt more optimistic about the economy overall than they did last
month.
The most
improvement was seen in the following groups:
1. Those with household incomes of $50-$75k showed a 7-
point, or 12.8%, gain over last month. They are among the most
optimistic groups this month with a score of 61.5.
2. Those living in the Midwest gained 4.6 points, or 9.3%,
over last month to reach a score of 54.3 in May.
3. Tied for third are those with household incomes under $30k
and Independents/Others. Both groups showed a 3.8-point, or
7.9%, gain over last month to reach scores of 50.2 and 52.1, respectively.
4. Blacks and Hispanics gained 3.7 points, or 7.7%, this
month for a score of 51.4 in May.
The three
groups whose optimism declined this month were those aged 18-24
(down 2.6 points, 4.6%, to 54), those with incomes in the $30k-$50k
range (down 1.2 points, 2.3%, to 51) and those living in the West
(down 0.4 points, 0.7%, to 53.4). |
