State Street Investor Confidence Index December 2022
/In December, the State Street Investor Confidence Index (ICI) dropped 14.4 points to 75.9, the lowest reading since the start of the pandemic. November’s revised reading was 90.3.
North American ICI fell by 16.4 points to 72.2
Asian ICI dropped by 4.1 points to 86.9
European ICI rose 10.8 points to 102.6
“Overall, investor risk appetite continued to weaken this month, with the Global ICI falling for the 3rd consecutive month to 75.9, its lowest reading since the start of the pandemic,” commented Marvin Loh, Senior Macro Strategist at State Street Global Markets.
“The decline was most pronounced in North America, which fell 16.4 points to 72.2, levels last seen in Spring, 2020 on growing recessionary concerns. Investor appetite in Asia also deteriorated, with a rapid escalation in Covid cases in China as the government has quickly abandoned its strict health protocols. Nonetheless, the 4.1-point decline in the Asia ICI to 86.9 was not as dramatic as the fall in North America. The ICI reading for Europe bucked the overall negative trend, rising 10.8 points to 102.6, its second-highest reading of the year as stable fuel costs and growing comfort that the continent could avoid the worst-case scenario in its ongoing energy emergency.”
