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Advisor Sentiment Sours on Near-Term Economy, Stocks
Advisors' near-term outlook on the economy and stocks darkened in July, with only 26% expecting improvement over six months, down from 55% in May. Current conditions remain positive, but the trend suggests a defensive shift ahead.
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Financial advisors’ near-term view of the economy and the stock market deteriorated sharply in July, with the share expecting a decline over the next six months rising to 40% and the share expecting improvement falling to 26%, according to the Wealth Management Advisor Sentiment Index.
The monthly survey, conducted by Wealth Management and Informa Engage, showed the third straight monthly decline in the six-month economic outlook. In May, 55% of advisors held a positive view of the economy’s short-term future. By July, that had dropped to 26%.
A similar pattern emerged for the stock market. In June, 45% of advisors expected gains over the next six months. In July, just 29% held that view.