Investors were asked to put their belief in an upcoming recession on a 100-point scale, with “100”’ indicating that a recession is very likely. In July, the average response was 39.13. In September, the rating was 44.22 among all investors, a 5-point jump in recession expectations in two months. As expected, investors who vote Republican (31.54) had a lower level of belief in an upcoming recession than those who vote Democratic (58.25) in the September survey. Also, investors with a net worth between $100,000 and $500,000 (not including the value of their primary residence) rated their belief in an upcoming recession at 50.52 in September, compared to a rating of 40.56 among investors with a net worth between $15 million and $25 million.