The IBD/TIPP Economic Optimism Index fell by 5.1 points, or 10.8%, in March to reach only 42.2 vs. 47.3 in February.
The US consumers economic outlook on next 6 month dropped 8.5 points, or 18.0%, to 38.8.
Their personal financial outlook in the next six months fell 2.4 points, or 4.4%, to 52.2. Confidence in Fed`s Economic Policies, or how government economic policies are working decreased 4.4 points, or 11.0% to 35.5.
"Americans across-the-board think that the economic outlook is grim. This month sixty percent believe that the economy is in a recession,” say IBD/TIPP analysts.
Index readings above 50 indicate optimism; below 50 indicate pessimism.