U.S. April confidence index hits record low - IBD

NEW YORK, April 8 (Reuters) - An index of U.S. consumer confidence tumbled in April to a record low, according to a survey released on Tuesday that highlighted the deepening downturn in an economy that is most likely in recession.

Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP economic optimism index fell to 39.2 in April, the worst result in the index's history, from March's 42.5, well below the 50 level that separates pessimism from optimism. The index was started in February 2001.

The IBD index was below the previous historic trough of 41.2 hit in September 2005, when consumer sentiment was severely weakened in the aftermath of Hurricane Katrina.

"The bad news during the month includes a jump in the ... unemployment rate and repeated speeches by (presidential) candidates telling us what's wrong with the economy," Terry Jones, associate editor of Investor's Business Daily, said in a statement accompanying the data, adding:

"A host of leading economists have added their voices, telling investors and consumers we're already in recession. It's a pretty good recipe for the current deep feeling of economic gloom."

Government data released last Friday showed U.S. employers cut payrolls in March for a third straight month and the jobless rate jumped to a 2-1/2-year high.

The survey's six-month economic outlook fell to 31.2 from 32.8, its personal financial outlook slid to 47.6 from 54.7 and a measure of confidence in federal economic policies fell to 38.7 from 39.9.

IBD/TIPP conducted the national poll of 1,005 adults from April 1 to April 6. Investor's Business Daily is a financial news and research organization. (Reporting by Burton Frierson; Editing by James Dalgleish)