Tags: ibdtipp | survey | consumer confidence | consumer index

Survey: Consumer Confidence Down Due to Coronavirus

a couple shops while also wearing surgical masks
A couple shops with masks as fears of the coronavirus spreading through the U.S. increase on March 4, 2020 in New York City. Travel, business, schools and other aspects of American life are beginning to be affected by the virus as new cases emerge. (Spencer Platt/Getty Images)

By    |   Wednesday, 04 March 2020 02:57 PM

Consumer confidence recorded it largest decline in more than six years due in part to the coronavirus outbreak, according to the Investor’s Business Daily/TIPP Economic Optimism Index.

The IBD/TIPP Economic Optimism Index, a collaboration of Investor’s Business Daily and TechnoMetrica Institute of Policy and Politics, also blamed uncertainties regarding the 2020 presidential election and a steep-sell off in the U.S. stock market for the decline.

Its March reading said the index retreated from a 16-year high last month and declined 5.9 points or 9.9% to a reading of 53.9 – the largest drop since October 2013.  An index score of 50 is considered neutral. Anything above 50 is considered positive.

An accompanying IBD/TIPP survey found 53% of Americans say the economy is improving. The optimism was felt across all 21 demographic groups IBD/TIPP monitor on a monthly basis

But 77% say it is likely the coronavirus will have a negative impeach on the U.S. economy.

The index is compiled from a survey of 901 people taken Feb. 20-29. The margin of error is plus or minus 3.3 percentage points.

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Consumer confidence recorded it largest decline in more than six years due in part to the coronavirus outbreak, according to the Investor’s Business Daily/TIPP Economic Optimism Index.
ibdtipp, survey, consumer confidence, consumer index
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2020-57-04
Wednesday, 04 March 2020 02:57 PM
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