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Investor confidence falls by 4.4 points in August

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Investor confidence fell by 4.4 points in August from July’s revised reading of 96.5 to 92.1, according to the State Street Investor Confidence Index.

Confidence decreased in North America, dropping 5.7 points to 95.3 from July’s revised reading of 101. 

Confidence also decreased among European investors dropping 1.2 points from 99.9 to 98.7.

Asia followed suit with confidence ticking down 1.6 points from 103.8 to 102.2.

Developed through State Street Global Markets’ research partnership, State Street Associates, by Harvard University professor Ken Froot and State Street Associates’ Paul O’Connell, the index measures investor confidence on a quantitative basis by analysing the buying and selling patterns of institutional investors.

“This month, the Global Investor Confidence Index gave back the modest gains recorded last month, providing evidence that institutional investors remain non-committal in the face of a weaker macroeconomic backdrop,” says Froot. “August marks the fifth consecutive month that the Index has remained below the neutral level of 100. Despite the relative strength of corporate balance sheets, question marks remain over the slow pace of economic recovery and the relative efficacy of policy measures to spur that recovery.”

“Consistent with the pattern of recent economic data, investor confidence in Europe and Asia held up relatively well in August and Asian confidence remains in the ‘risk accumulation’ range above 100,” adds O’Connell. “That said, there are clearly doubts about the source and strength of aggregate global demand in the near term. Our underlying data shows that flows into both developed and emerging markets were in the bottom quartile during the last week of the month, evidence of some real caution toward risky assets.”

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