The Rydex Advisor Confidence Index (ACI), the benchmark that gauges advisors’ views on the U.S. economy and stock markets, declined to 114.78 in November, down from 115.52 in October and moving closer to the neutral position of 100, according to Rydex AdvisorBenchmarking, Inc. The decrease in advisors’ confidence this month was due to negative expectations for the economy in the longer term, Rydex reports. However, only the confidence measure for the 12-month economic outlook–one of the four elements used to determine the ACI–dropped, falling by 4.79%. The other three components increased: The current economic outlook rose 0.16%, the six-month economic outlook rose by 0.36%, and the stock market outlook rose by 1.66%. “We believe chances are good that the economy will continue to grow at a more sustainable 2.5% to 3% growth rate and that inflation will remain under control, said Frederick Wright, an advisor that participated in the index and the chief investment officer of Smith & Howard Financial Group in Atlanta, Georgia, in a statement. “This will provide a good underpinning for stock valuations.” As for the Consumer Confidence Index, it stood at 105.4 in October, up only 0.86% compared to a 5.17% increase in the advisor index.