A drag on the Spectrem Affluent Household Outlook is a decline in confidence in the Economy.
The February Spectrem Affluent Household Outlook, a monthly measure of confidence in four financial factors that impact Affluent household’s daily lives, rose in February to 6.70 points, a gain of 4.20 points from the previous month. But it is down 25.5 points. from February 2015
Household Assets posted the largest month-to-month gain, 11.60 points to 28.40. But this, too, is down almost 30 points from February 2015. Household Income is at 17.60 points, up 5.20 points from January, while Company Health is at 4.40 points, a gain of almost three points from January.
A drag on the Spectrem Affluent Household Outlook is a decline in confidence in the Economy. This category of the Outlook is at -23.60, a drop of almost three points from January. This is the third consecutive month that the Economy has been in negative territory. It is down roughly 48 points from February 2015.
Millionaires lifted the overall Outlook. The Millionaire Household Outlook gained 7.82 points in February to 9.77. The Non-Millionaire Household Outlook is at 3.48, a gain of 0.41 of a point.
Non-Millionaire confidence in the Economy dropped 8.2 points to -28.69, the lowest reading since November 2012. In comparison, Millionaire confidence in the Economy dipped 2.34 points. to -18.75
Analyzed by gender, men in February posted a higher Household Outlook than women 9.04 points. vs. 2.08. While men indicated more confidence than women in Household Income, Household Assets and Company Health, confidence in the Economy was in negative territory for both groups (-22.89 points. for men vs. -25 points for women). In a separate Spectrem Group survey conducted in February, women investors similarly indicated a less confident investment mindset than men, with more Affluent women than men indicating that they would hold on the investment sidelines in the coming month
The Household Outlook for Affluent investors who identify as Democrats was higher than the Outlooks for those who identify as Republicans or Independents (10.48 points vs 3.69 points and 9.14 points, respectively).
Affluent Republicans have a significantly bleaker view of the Economy (-39.77 points) than Democrats (-1.61).
While Affluent Democrats indicate more confidence in Company Health than Republicans and Independents (11.29 points. vs. 4.55 and 2.15, respectively), Affluent Republicans indicate the most confidence in Household Assets (35.23 points. vs. 27.96 for Independents and 22.58 for Democrats).
The Spectrem Affluent Household Outlook is a driver of the Spectrem Affluent Investor Confidence Index, which rose 1 point in February to -3. The Spectrem Millionaire Investor Confidence Index (SMICI®) rose 5 points to 2. Instituted in February 2004, the indices measure the investment confidence and outlook of the 16MM households in America with more than $500,000 of investable assets (SAICI), and those with $1MM or more (SMICI). This month’s survey was fielded between Feb. 16-17. Market volatility had calmed after the S&P 500 and Nasdaq dropped to multi-year lows earlier in the month.