July Swoon: Economic Optimism Slips

The IBD/TIPP Economic Optimism Index, a leading measure of consumer confidence, declined 2.1 points or 3.7% from 56.4 in June to 54.3 in July.

The index's reading of 54.3 keeps it in positive territory for the seventh consecutive month.

The confidence in June is 9.2% below its pre-pandemic level of Feb 2020.