That sensitive hothouse plant, investor confidence, sank to an all-time low in February, according to the latest study from investment bank UBS and The Gallup Organization.
The duo’s Index of Investor Optimism now languishes at nine points, down a staggering 29 points from January’s level of 38 – and twenty points below the previous nadir of 29 points last October. Little more than two years back (January 2000) it stood at an all-time high of 178.
And investors’ pessimism is shared by Joe Public, reports the latest Gallup poll (conducted February 17-19). Only 18% of consumers rate current economic conditions as good or excellent while 34% rate them as poor.
This is the weakest rating for the economy since November 1993, when 17% of the public rated current economic conditions as good or excellent and 33% rated them as poor. At the same time, nearly two out of three consumers (63%) say economic conditions are getting worse – more than double the number who believe conditions are getting better (26%).
The full data can be downloaded from Gallup Investor Optimism Index.
Data sourced from: The Gallup Organization; additional content by WARC staff