Consumer confidence falls in August vs July: IBD

(Reuters) - Consumer confidence fell 2.5 percent in August from July as Americans remained unconvinced by government efforts to revive the economy, a report found on Tuesday.

Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index slipped to 43.6 in August from 44.7 in July.

Readings above 50 indicate optimism, while those below 50 point to pessimism.

The index is now at its lowest level since October 2008, 3.8 points below its 12-month average of 47.4, and 0.8 points below the 44.4 level IBD reported in December 2007 when the recession began.
"The failure of government programs to bring about a promised turnaround in the job market seems to have soured many Americans on current stimulus and bailout efforts," said Terry Jones, associate editor of Investor's Business Daily.
Those surveyed remain uncertain about their household finances in the next six months. The gauge's personal financial outlook measure dropped 3.3 percent in the month to 49.2.
The index's six-month economic outlook component improved 5.4 percent to 45.1 and is now 13 points above its level in December 2007.
The IBD/TIPP surveys more than 900 adults generally in the first week of the month.