The most recent Gallup check-up on investor confidence shows a speed bump on the way to economic recovery. It stood at +11 a year ago in June 2008, and was at +50 as recently as December 2007. But the June 2009 reading is a disappointing -21. In point of fact, it is a far cry better than the -48 recorded in December 2008 and the nadir of -64 reached last February. But it comes after a refreshingly healthy reading of only -1 in May, basically reverting back to April’s confidence level of -20.
RBR/TVBR observation: Almost all prognostications we’ve seen expect the second half of 2009 to be better than the first half, so maybe this lost ground will be temporary. Of course, prognosticators have not inspired much confidence themselves these past few years.