Registered investment advisors became slightly more optimistic about the economy in November, as measured by Rydex/SGI’s Advsor Confidence Index.
The index rose 1% from October, but despite this increase many advisors agreed economic growth would continue to be slow and RIAs were actually less optimistic about stocks than before.
The index was tilted up by more optimism about the six-month outlook for the economy, which rose by 6.54 points and the current outlook, which rose by 4.6 points.
Over the same month, expectations for the stock market declined 2.02 points, as did RIA's hope for the economy over the next year. Expectations declined 4.10 points.
The Confidence Index, which combines all four measures, reached 111.75. A score of 100 is considered neutral; scores range from 33.33 (very negative) to 166.67 (very positive). In September 2008, the index hit a low of 79.