The Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey reveals growing doubts about the economy although it remains in positive territory.
The STEP Near Term Confidence Index, which looks at the outlook over the next three months, has fallen slightly this quarter, from 15 to 11. This index was -13 at the start of 2009. Similarly, the STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, has dropped from 28 to 23 which is the lowest it has fallen since 2009, illustrating growing doubts about the economy, although still positive.
STEP Chief Executive David Harvey said: “These survey results show our membership have confidence about the long term outlook for trust and estate business, but are becoming a bit more wary of changes to the economy.”
The quarterly confidence survey looks at members’ views across a wide range of jurisdictions and trust and estate businesses.
The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to “improve” or “significantly improve” relative to those expecting business to “decline” or “decline significantly”.
Findings of the 2nd quarter 2011 STEP Business Confidence Monitor can be accessed online at:
http://www.step.org/docs/Confidence%20Survey%20Q2%202011.xls?link=contentMiddle
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