Global investor confidence nudged higher in June, while confidence in North America slipped, according to State Street Global Markets.
Global confidence increased by 1.3 points to 89.7 in June from May’s revised reading of 88.4. Meanwhile, State Street’s Investor Confidence Index showed that confidence continued its decline in North America falling 6.3 points to 92.2 from May’s revised reading of 98.5.
The index was developed by Harvard University professor Ken Froot and Paul O’Connell of State Street Associates.
European investor confidence rose 5.4 points from 92.3 to 97.7. In Asia, confidence increased 1.7 points from 100.9 to 102.6.
“Despite seeing a rise in confidence globally, North American institutional investors remained jittery this month and their risk appetite returned to levels last seen in spring 2009,” says Froot. “Question marks remain over the state of the U.S. job market and overall U.S. aggregate demand and these, in turn, have led to diminished expectations about the pace of economic recovery.”
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