The RCM/TIPP Economic Optimism Index declined -2.4% MoM to 47.9 in May, marking the third straight month in pessimistic territory and a reading below expectations of an increase to 50.2.

• The Six-Month Economic Outlook fell -3.1% MoM to 43.6, while the Personal Financial Outlook dropped -5.4% MoM to 52.5.
• Confidence in Federal Economic Policies improved slightly to 47.6, up 1.9% MoM, but remained below 50.0 for the 45th consecutive month.
• Financial-Related Stress Index jumped 4.7% MoM to 66.7, well above the long-term average of 60.3 and the highest since October 2023.
• Investor confidence eased -0.8% to 60.4, while non-investor sentiment fell more sharply by -4.2% to 40.9.