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January 27, 2003 at 07:00 PM
NU Online News Service, Jan. 27, 12:01 p.m. – Many rich U.S. residents agree that the economy is bad, but most believe it will improve over the next 12 months, according to results of a survey by Penn, Schoen & Berland Associates, New York.
The researchers who conducted the survey, which was sponsored by the McDonald Financial Group, Cleveland, based the results on interviews in December 2002 and early January with 400 U.S. residents who have at least $500,000 in investable assets or annual incomes of at least $150,000.
Almost half of the respondents say the United States is in a recession, but 79% expect the economy to stay the same or improve over the next three months.
Eighty-three percent of the respondents say they are confident about the future of the stock market, and 52% predict the S&P 500 stock index will rise in the next three months.
