Posted inNORDICSSOUTHERN EUROPE

macro sentiment leaps year on year

Data from our first- and second-quarter conferences last year showed that, on average, fewer than one-in-five delegates were positive on the macroeconomic outlook in 2012. However, polls conducted at the equivalent events in the first half of 2013 revealed a significant rise in investor confidence.

Indeed, more than a third of fund selectors at our Q1 and Q2 conferences were upbeat on the macroeconomic outlook, while fewer than one-fifth were downbeat (see chart below). Sentiment was most bullish at Expert Investor Nordic, where a net 37% of delegates were positive.

The increasingly upbeat stance of investors appears at odds with their declining levels of confidence in politicians. Across our Q1 and Q2 survey groups this year, just 38% of delegates were confident in the economic management abilities of their domestic governments – down from 68% in 2012.

As reported, Italian fund selectors were the most negative on their government. However, they were also the second-most upbeat delegate group (after Expert Investor Nordic) when it came to the broad macroeconomic picture, with a net 35% positive on the outlook.

Platinum members can view full breakdowns of the voting data from all of Expert Investor Europe’s events this year, in The Data Centre. To see how sentiment on various topics has changed over time, use the Country Data Summaries links on the right-hand side.

tom@ybc.tv

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