Millionaire investors' confidence in their personal financial situation is at a five month high.
A surge in the confidence with which Millionaire investors regard their present financial situation helped boost the July Spectrem Affluent Household Outlook to 25.20 points, a gain of 3.9 points since last month.
The Outlook, a monthly measure of affluent confidence in four financial factors that impact their daily lives, is basically unchanged from July 2014, when it posted a reading of 25.10 points.
Among surveyed affluent investors overall, the Economy posted the largest month-over-month gain; 14.80 points to 20.80, a five-month high. The Economy is up 13.60 points from July 2014. Company Health gained 8.80 points from June to 14.40, also a five-month high. Closer to home, though, Household Income dropped six points in July to 16. This is down 4 points rom the same period last year. The decline in this category was perhaps anticipated in the Labor Department’s June jobs report released in the beginning of the month. It reported stagnant wage growth along with a month-over-month increase in the number of unemployed “discouraged workers” who have given up searching for a job.
Household Assets dipped 1.60 points to 49.60, a three-month low.
Spectrem Group breaks down the Spectrem Affluent Household Outlook by Millionaire and non-Millionaire households. Non-Millionaires are generally less confident and more cautious investors than their Millionaire counterparts. This demographic’s July Outlook was basically unchanged from June at 19.67 points, a loss of 0.25 of a point. In comparison, the Spectrem Millionaire Household Outlook gained 7.93 points to 30.47, a five-month high.
The Spectrem Millionaire Household Outlook registered increases in all four categories. The biggest month-to-month gain was reported in Company Health (14.27 points), followed by the Economy (10.52 points), Household Assets (4 points) and Household Income (2.94 points).
This helped to offset drops in two categories in the Spectrem Non-Millionaire Household Outlook, which was mixed in July. Non-Millionaire confidence in Household Income dropped 15.58 points to 9.84, a 15-month low. Household Assets dropped 7.35 points to 41.80, a nine-month low. But Non-Millionaire confidence in the Economy surged 18.82 points to 19.67, while Company Health gained 3.14 points to 7.38.
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.