The Spectrem Affluent Household Outlook was basically unchanged in September, dipping 0.13 points to -2.80. It was held back primarily by renewed pessimism in the Economy, particularly in Non-Millionaire households.
The overall Outlook, a survey of Affluent attitudes toward financial factors that impact their daily lives, has posted a negative reading for three consecutive months. Household Income dropped 3.65 points to 0.45, a 10-month low. The Economy dropped 3.52 points to 18.95. On the plus side, confidence in Company Health gained 4.56 points to -1.36, while Household Assets increased 2.07 points to 8.68, a four-month high.
Our monthly survey of Affluent investor attitudes and behaviors further breaks down findings by Millionaire and Non-Millionaire households. The overall Millionaire Outlook rose 6.05 points to 6.87--a four-month high--driven mostly by an increase of 12.25 points in Household Assets to 24.09, a five-month high.
Company Health and the Economy each rose more than six points, although Economy still posted a negative reading at -7.41. Household Income was basically unchanged, dipping 0.27 points to 7.51.
The picture was different in Non-Millionaire households, whose overall Outlook dropped 7.15 points to -13.45, a 10-month low. All of the components posted readings in negative territory, the first time this has happened since last January.
Only Company Health posted an increase--albeit modest--in September, rising 2.14 points to -6.48. The Economy suffered a 14.54 point loss to -31.73, also a 10-month low. Household Assets fell 8.56 points to -8.29, while Household Income dropped 7.56 points to -7.32, an eight-month low.
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.