Each Affluent Outlook component is up significantly from the same period last year, when Affluent investor confidence was shaken by the ongoing fiscal cliff debate.
The Spectrem Affluent Household Outlook surged 12.79 points to 17.89, regaining nearly all the ground it lost after plunging more than 13 points in October.
Despite headlines dominated by the user-unfriendly Affordable Care Act website and the attending low approval ratings for the President over the administration’s rollout of his signature legislation, Affluent investors expressed a renewed and reinvigorated confidence in four financial factors that impact their daily lives.
The Economy jumped 19.45 points to 10.96 in November, while Household Assets increased 17.27 points to 37.27, the highest reading since July 2007. Household Income gained 6.18 points to 14.02, a four-month high, and Company Health gained 8.27 points to 9.32, again, regaining much of the ground lost in October.
Each component is up significantly from the same period last year, when Affluent investor confidence was shaken by the ongoing fiscal cliff debate. The overall Affluent Outlook was -17.52. The Economy reading was -33.92.
Spectrem Group also breaks down the Affluent Outlook between Millionaire and Non-Millionaire households. The Millionaire Outlook is significantly higher than the Non-Millionaire Outlook, but the latter posted a higher month-over-month increase, 14.97 points to 1.25 (a vast improvement of the November 2012 reading of -20.23). Confidence in the Economy among Non-Millionaires is still in negative territory (-0.96), but it gained 21.77 points.
Household Income increased 17.29 points to 4.51, while Company Health gained 12.26 points to -2.50. Household Assets increased 8.53 points to 3.93.
The Millionaire Outlook gained 8.52 points to 31 (up from -15.25 last year at this time) with Household Assets posting the largest month-over-month increase, 20.81 points to 63.53, the highest reading since April 2007. The Economy gained 15.70 points to 20.36, while Company Health gained 2.98 points to 18.63. Household Assets dropped 5.39 points to 21.50.
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.