Steve Kass

Renewed concern remained high for the third consecutive month, setting a record in March, according to first-quarter figures released today. The data came as a surprise to analysts, many of whom expected 2009’s historically low levels to continue for at least 12-18 months.

“We’re surprised, but we’re still forecasting a positive outlook for the year,” said Trend Analytics’ Sandeep Singh. “Don’t forget that increasing optimism, though off its January peak, remains strong.” In his widely-read newsletter, “Pulses,” Singh calls for renewed concern to drop by 10-15% in Q2 and for increasing optimism to remain steady.