U.S. investors are growing gloomier about the economy thanks to the looming federal debt and the uncertainties surrounding the presidential election, as one of the closely watched investor optimism indices declined for the third time this year.
The latest Wells Fargo/Gallup Investor and Retirement Optimism Index, released today, slid to +16 in July, down from +24 in May and +40 in February. Growing pessimism about the future of the US economy drove the fall, and non-retired investors were the grumpiest, reporting a 10-point slide in optimism from May. Retired investors were more sanguine, as their optimism stayed flat. Now the percentage of investors who believe it's a good time to be in the markets is well under half - just 41% - compared to 52% who were game in February.
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