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"Consumer confidence continues to be in vulnerable territory"
- Raghavan Mayur, president of TIPP
An indicator of economic optimism edged higher to 40.6 in November from 40.3 in October said Investor's Business Daily and TechnoMetrica Institute of Policy and Politics on Tuesday. A reading above 50.0 indicates optimism; below 50.0 indicates pessimism.
"Consumer confidence continues to be in vulnerable territory, despite its modest improvement second month in a row," said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence, IBD's polling partner.
"Like the economy itself, the IBD/TIPP optimism index is inching higher, but it lacks the kind of power expected in a strong recovery," said Terry Jones, associate editor of Investor's Business Daily. "The continued low level of confidence shown in the poll suggests that, at best, the economy will show only tepid growth in the coming months."