Confidence among affluent investors is down for the first time in nearly a year, according to the most recent TNS Investor Confidence Index.
The index dropped to 113 in April, down from 119 in January. Although affluent investors felt positive about some measures recorded in the survey, optimism about the economy and the stock market saw a notable decrease. That decrease likely accounted for the overall decline in confidence.
"In addition to the slower GDP growth in the first quarter, the past few months have seen a confluence of worrisome events: rising gas and crude oil prices, a near shutdown of the U.S. government over fiscal policy, warnings that the U.S. debt ceiling will soon be reached, budget proposals that call for large cuts in spending, and both perceived and real inflation in everyday products," said Ellen Sills-Levy, senior vice presideny of investment research at TNS in a statement. "All these factors appear to be adversely impacting investor confidence."
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