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Topics: IFA| Skandia| emerging markets| FTSE 100
Confidence in the UK economy amongst advisers has fallen by 5% this quarter, Skandia says.
Advisers rate their confidence in the economy as 5.1 out of 10 (with 10 as the maximum), compared to 5.6 in Q2, according to the Skandia Adviser Confidence Barometer.
The FTSE 100 will end the year at 5,578, 11% down from last quarter's prediction of 6,290, the research says.
Advisers see European debt as the greatest threat to the economy, and US debt and government spending cuts also feared.
On inflation, 37.2% of advisers think it will decrease and 32% think it will decrease.
More than half of advisers think interest rates will stay at 0.5%, whereas in Q2, just 14% thought so, with 84% believing they would rise.
Advisers see emerging markets as having the best potential for returns over the next year, and saw the global specialist sector and UK equities as the second and third best opportunities.
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| Comment | IFAs predict FTSE plummet in confidence crash |
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Hang your head in shame
Rachel Dalton - hang your head in shame. Go to the bottom of the class. Stand in the corner with the Dunce's hat on. What pants reporting! The story is headed 'IFAs predict FTSE plummet in confidence crash' - yet when you read the story this is absolutely NOT true. The FTSE is already below the level that IFAs think it will be at the end of the year, Rachel - so they actually expect an increase. Although, admittedly, they expect the index to be lower at the end of the year than they did when asked at the start of the year. Please take a modicum of care before writing these articles. Many of them seem to be written for sensationalist reasons. Thankyou!
Posted by: Simon Booth