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Investor confidence falls 4.2 points in November to 91.3

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The State Street Global Investor Confidence Indicator (ICI) fell to 91.3 in November, down 4.2 points from October’s revised reading of 95.5.

The decline was the result of a relatively steep fall off in European sentiment to 101.5 from a revised reading of 111.3 in October.
 
Sentiment in both North America and Asia improved slightly over the month fuelled by better economic news out of both regions. The North American ICI increased by 3.2 points to 89.4 over the revised October value of 86.2 and the Asian ICI rose 3.4 points to finish at 98.9 from an October revised value of 95.5. 
 
The Investor Confidence Index was developed by State Street Associates, State Street Global Exchange’s research and advisory services business, and Harvard University professor Kenneth Froot. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns of institutional investors.
 
“Improved US economic data and consensus around the Yellen nomination implying delayed tapering seem to be leading to an uptick in North American investor confidence,” says Froot. “Investors in the US are still aware of the challenges and overall confidence reflects this as sentiment has yet to return to a more neutral stance.”
 
“Our readings this month are in direct contrast to those in October,” says Jessica Donohue, head of research and advisory at State Street Global Exchange. “European confidence, which clocked in at its highest level since July 2007 last month, has retrenched to near neutral territory driven primarily by weaker sentiment for the UK.”

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