The Spectrem Affluent Household Outlook is at its lowest reading since April 2014 and down just over 20 points from September 2014.
A drop in Millionaire confidence in household assets and income pushed the Spectrem Affluent Household Outlook to a 17-month low in September.
The Spectrem Affluent Household Outlook, a monthly measure of confidence in four financial factors that impact their daily lives, dipped 1.93 points to 16.57, its lowest reading since April 2014. It is down 20.25 points from the same period last year.
Household Income dropped nearly 8 points from August to 12.45, a 19-month low and down 16.75 points from September 2014. Household Assets fell 3.55 points to 36.55, a 17-month low and down 20.25 points from September of last year.
Company Health dipped 1.96 points from August to 10.04, down just over 9 points from the same period the previous year.
One bright spot in the Spectrem Affluent Household Outlook is the Economy, which gained 5.63 points from August to 7.23. But this, too, is down from the previous year.
What is driving these changes in the Spectrem Affluent Household Outlook? Spectrem Group analyzes the Spectrem Affluent Household Outlook by Millionaire and non-Millionaire households. The Millionaire Household Outlook dropped 4.86 points to 18.65, an 18-month low, and down 12.5 pts. from September 2014.
Surveyed Millionaires indicated a drop in confidence in Household Assets (down 10.2 points from August to 36.07) and Household Income (down 9.88 points to 14.75). Confidence in Company Health dipped 1.23 points to 16.39, a three-month low. But the Economy edged up 2.16 points to 7.38. In September 2014, that reading was at 23.81 points.
The Non-Millionaire Household Outlook, on the other hand, ticked upward 1.85 pts. To 14.57, but it, too, is down from September 2014 (14.06 points). The slight increase in the Non-Millionaire was driven by the increase in confidence in Household Assets (up 4.25 pts. from August) and the Economy (up 9.68 pts.).
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.