U.S. consumers were less pessimistic about the economy and more optimistic about their personal finances in the latest poll from Investor's Business Daily and TIPP.
The IBD/TIPP Economic Optimism Index grew to 45.2 points in January from 43.1 points in December.
The index's latest reading is 0.5 points above its 12-month average and 0.8 points above the reading of 44.4 in December 2007, when the economy entered the recession. Readings above 50 indicate optimism, while those below 50 indicate pessimism. TIPP is a unit of TechnoMetrica Market Intelligence.
Consumer confidence remained in negative territory for the 15th month in a row, with 51% of consumers believing the U.S. is still in recession, acording to TIPP president Raghavan Mayur.
The latest results are based on a national poll of 901 adults from Jan. 4 to Jan. 7, with a margin of error of 3.3 percentage points.
The six-month economic outlook, a measure of how consumers feel about the economy's prospects in the next six months, grew 3.3 points to 44.3.
The personal-finance outlook, a measure of how Americans feel about their own finances in the next six months, inched up 3.5 points to 56.1.
Confidence in U.S. economic policies, a gauge of views regarding how government economic policies are working, declined 0.6 points to 35.1.