US: Economic optimism slips below pre-Trump election level - IBD/TIPP Poll

"Economic Optimism Index eased to 51.3 in May from 51.7 in April. After surging to a 12-year high of 56.4 in February, optimism is now a touch below where it was in early November, before the surprise election of Donald Trump," said the Investors Business Daily on Tuesday. 

Key quotes:

• The index held above the neutral 50 level, signaling optimism for the eighth straight month.
• The pullback in optimism has come as a messy fight over ObamaCare has taken center stage in Washington, clouding the outlook for President Trump's proposed fiscal fuel of tax cuts and infrastructure spending
• The risk is that a pullback in economic optimism will carry over to the business sector after signs of exuberance were apparent in survey data
• Second-quarter growth will likely be well above the roughly 2% trend, with current estimates from the Atlanta Federal Reserve currently pointing to the possibility of 4% growth