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Roaring Economic Optimism Index hits 13year high - credit to tax cuts

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Despite this week’s stock market tumble, faith and optimism in the U.S. economy has hit a 13-year high, according to a leading poll on economic confidence. The IBD/TIPP Economic Optimism Index jumped in February to 56.7 from 55.1, marking the 17th consecutive month in positive territory. A reading below 50 indicates pessimism while a reading above 50 signals optimism. It’s not far from the all-time high of 62.9 in March 2002.