IBD/TIPP Poll: Economic Optimism Lowest Since February 2009

Failure breeds failure.

Consumer gloom in July reached its highest level since the recession was near the bottom amid fears that the expansion remains too weak to create many jobs, according to the IBD/TIPP Economic Optimism Index out Tuesday.

The IBD/TIPP gauge fell 3.2% in early July to 44.7, the lowest since February 2009. Readings below 50 signal pessimism. The six-month outlook sank 3.2 points to 42.8, a 16-month low. It's down 16% since May.