Confidence in the economy posts largest increase in more than a year
The Spectrem Affluent Household Outlook jumped to 10.65 in October, an increase of 13.45 points. This is the highest level for the Outlook since last April, and the first time it has posted a positive reading since June,
The Outlook, a survey of Affluent attitudes toward financial factors that impact their daily lives, posted significant increases in all of the components measured each month. It is the first time since May that all of the components simultaneously posted positive readings.
Affluent households are feeling better about the Economy. This component gained 23.85 points to 4.87, the largest increase in more than a year. Household Assets also posted a double-digit increase, gaining 16.15 points to 24.83, another six-month high.
Household Income jumped 7.61 points to 8.06, while Company Health gained 6.2 points to 4.84, the highest level since last June.
Our monthly survey of Affluent investor attitudes and behaviors further breaks down findings by Millionaire and Non-Millionaire households. The Non-Millionaire Outlook posted the biggest gains in October. The overall Non-Millionaire Outlook gained 17.96 points to 4.51. The Economy jumped 33.82 points to 2.09, only the third time in the past year that this component reached a positive reading.
Household Assets gained 19.88 points to 11.59, the highest reading since May 2011. Household Income increased 12 points to 4.68. Company Health is at -0.32 as a result of a 6.16-point gain.
The overall Outlook in Millionaire households gained 9.63 points to 16.50, the highest reading since last April, and the third consecutively monthly increase. Millionaires, too, expressed an increased confidence in the Economy. This component gained 14.92 points to 7.51, the highest as well as the first positive reading since last May.
Household Assets gained 13.35 points to 37.44, another six-month high. Company Health gained 6.48 points to 9.76, while Household Income gained 3.77 points to 11.28, also the highest reading since last April.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.