Wednesday, August 12, 2009
Here's a pretty impressive and uplifting chart. It's the Bloomberg Professional Confidence Index, and it is "comprised of responses about the outlook for the global economy, from users globally. A value above 50 indicates a positive sentiment about the global economy from all Bloomberg respondents." This is not exactly a scientific survey, but it leaves no doubt as to whether the outlook has improved. This is dramatic improvement in a relatively short time frame. Confidence (the loss of) was one of the key ingredients in last year's free-fall, and now confidence is coming back big-time. That's very good news.
Posted by Scott Grannis at 9:06 AM