The Spectrem Affluent Household Outlook posted its highest reading in May since June 2007.
The Spectrem Affluent Household Outlook gained 10.57 points in May to 26.70, the highest reading since June 2007.
The Spectrem Affluent Household Outlook is a monthly measure of Affluent investor confidence in four financial factors that impact their daily lives. Household Assets gained 17.28 points to 50.06, also a near-seven-month high. Household Income gained 15.48 points to 28.63, the highest reading since December 2007. Company Health gained 4.47 points to 15.74, the highest reading since January 2011, while the Economy gained 5.04 points from the previous month to 12.35, a four-month high.
Year-over-year, the Spectrem Affluent Household Outlook is up 8.39 points.
The Spectrem Affluent Household Outlook is consistent with the Conference Board Consumer Confidence Index released Tuesday that showed a gain in May from 81.7 in April to 83. The Present Situation Index, which measures consumer assessment of current conditions, increased from 78,5 to 80.4, while the Expectations Index ticked upward from 83.9 to 84.8.
Spectrem Group further breaks down Outlook measurement by Millionaire and non-Millionaire households. The surge in the May Spectrem Affluent Household Outlook was driven by non-Millionaire households, whose Outlook has see-sawed since last March, not posting two consecutive month gains, unlike their Millionaire counterparts.
The May non-Millionaire Outlook rose 16.76 points to 23.22, the highest reading since July 2007. Household Assets gained 20.27 points to 40.83, an almost seven-year high, while Household Income jumped 24.42 points to 23.65, a three-year high. Company Health gained 13.98 points to 16.22 and the Economy increased 8.39 points to 12.18.
Year-to-year, the non-Millionaire Outlook is up 9.81 points.
The Millionaire Outlook showed more muted improvement, but actually dropped in one component. The Millionaire Outlook gained 4.70 points to 30.06, a six-month high, and the third consecutive month in which it posted an increase. Household Assets gained 14.57 points to 59.01, another six-month high. Household Income gained 7.01 points to 33.45, the highest reading since November 2007. The Economy trended upward 1.84 points to 12.52, a three month high. Company Health dropped 4.61 points to 15.27.
Year-to-year, the Millionaire Outlook is up 7.96 points.
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.