A Whopping 77% Of Financial Professionals See No Recovery In Next Year

Here’s a particularly grim survey of financial professionals from Sageworks Inc. 76.5 per cent expect no recovery within the next year. 22.2 per cent expect things to get worse.

(If you’re looking to make a contrarian bet, the door is wide open.)

Sageworks calls this a big deterioration from past polls in January 2011 and October 2010 which, not surprisingly, were optimistic about the recovery.

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From the release:

The new Sageworks data suggests a general sense of malaise about the economy in which, despite better business results, business owners are apprehensive to hire due to continued uncertainty about the direction of the economy and the proposed solutions from Washington. The survey responses indicate that people are not confident in the stability of the economy even looking out as far as a year.  They may not presently see any solutions in place that will resolve their current economic woes in a year from now.

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