Advisers' confidence in the economy and stock market declined further in July, according to Rydex AdvisorBenchmarking.
Processing Content
The Rydex Advisor Confidence Index fell 11% in July from a month earlier, the steepest decline in the index's history, according to a Monday release by Rydex Advisors in Rockville, Md., which prepares the index.
Each of the elements used to calculate the index fell in July. Advisers were most pessimistic about the current economic outlook (down 17.53%), the six-month economic outlook (off 12.04%), and the stock market outlook (down 3.2%.)
The Conference Board Consumer Confidence Index, which has fallen steadily since last summer, posted a further decline in June, off 13.25%.
