U.S. consumers were more pessimistic about the economy and their personal finances in the latest poll from Investor's Business Daily and TIPP, a unit of TechnoMetrica Market Intelligence.
The IBD/TIPP Economic Optimism Index fell 4.2%, posting 45.1 points in August from 47.1 points in July. Readings above 50 indicate optimism, while those below 50 indicate pessimism.
The latest results were based on a national poll of 901 adults from July 29 to Aug. 3, with a margin of error of 3.3 percentage points.
The index is 2.2 points below its 12-month average of 47.3 points, but above its reading of 44.4 in December 2007, when the economy entered the recession.
"Despite improvements in the employment data last week, our poll shows a decline in Americans' confidence. To many, the weak economic recovery continues to feel like a recession," said Raghavan Mayur, president of TIPP. "For example, 56% think that the U.S. is still in a recession. While 48% feel the economy is improving, 50% think the economy is not improving."
The six-month economic outlook, a measure of how consumers feel about the economy's prospects in the next six months, was down 4.8% to 45.8 points.
The personal-finance outlook, a measure of how Americans feel about their own finances in the next six months, declined 4.1% to 53.8 points.
Confidence in U.S. economic policies, a gauge of views regarding how government economic policies are working, was down 3.8% to 35.8 points.