In an unusual switch, investors are now gloomier than consumers due to a particularly grim view of the economy, according to recent data from polling firm Rasmussen Reports.
Measures of confidence from Tuesday and Wednesday show that investors, for the first time, are more pessimistic than consumers, which include investors and non-investors.
"The reason we have this unusual circumstance now is that investors have become more pessimistic about the future of the economy that non-investors," said Scott Rasmussen, president. "Most of the time investors pay closer attention to financial news, and react to news more quickly.
Efforts in Washington seem to have had little positive impact on confidence, Scott Rasmussen said.
"The stimulus plan passed by Congress and signed by the president has not changed the trajectory at all," Scott Rasmussen said.
The investor index is at an all-time low, and the consumer index has slightly improved from the record low hit on Monday. The data go back to 2001.
"Investors typically rate their current financial condition more highly than non-investors," according to Rasmussen. "While that is still true, investors now offer a bleaker assessment of the overall economy than non-investors."
According to the Rasmussen poll:
4% of investors rate the economy as good or excellent, compared with 7% of non-investors.
89% of investors say the economy is in a recession, compared with 77% of non-investors.
15% of investors say their personal finances are getting better, compared with 16% of non-investors.
55% of investors say their personal finances are getting worse, compared with 52% of non-investors.
The Rasmussen data echoes a Tuesday report from the Conference Board that showed consumer confidence plunged in February to a record low as concerns about jobs, income and the economy considerably worsened.
