Non-Millionaires have more confidence in economy than Millionaire households.
The Spectrem Affluent Household Outlook dropped to its lowest level in six months in June, a reflection of shaken confidence in the direction of the economy. The Outlook, a monthly survey of Affluent investor attitudes toward financial factors that impact their daily lives, dropped 3.05 points to 1.2. Household Assets posted the most significant drop, 9.87 points to 1.62, another six-month low.
The Economy dropped 5.4 points for a reading of -5.4. This component last posted a negative reading in January. Company Health rebounded slightly from its 7.63-point drop last month to gain 3.61 points for a reading of 3.85. But Household Assets dropped 9.87 points to 1.82, its lowest reading since last December. Household Income ticked down 0.54 points to 4.83.
The overall Outlook in Millionaire households dropped 10.69 points to 2.38, the largest decrease in almost a year, and the lowest reading since last November. The Economy posted the biggest loss, 29.23 points to -15.98, the lowest reading since this component's first negative level since last January.
Household Assets dropped 9.22 points to 10.86, while Company Health fell 8.22 points to 4.47. The lone bright spot was Household Income, which gained 3.9 points to 10.17.
The overall Outlook in Non-Millionaire households was lower than in Millionaire households, but it gained 5.08 points to 0. These investors are much more upbeat about the Economy, which jumped 20.22 points to 6.22, the highest reading since last February. Company Health, too, posted a solid gain in Non-Millionaire households: 6.24 points to 3.18.
Non-Millionaire confidence in Household Assets, though, tumbled 10.73 points to -8.41, a three-month low, while Household Income fell 5.36 for a reading of -0.96.
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.