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April 27, 2011 at 11:39 AM
Spectrem's Millionaire Investor Confidence Index fell 9 points in April to -1, the company reported Wednesday. April's reading, while considered neutral, is the second consecutive decline, following another 9-point drop in March, This is the lowest level for the Index in seven months.
“Millionaires’ investment confidence fell for a second-straight month in April, suggesting some level of concern about the strength of the economic recovery," George Walper, Jr. (left), president of Spectrem Group, said in a press release. "This decline brought millionaires’ confidence to its lowest level since September 2010, as optimism among the broader affluent population also fell."
The Spectrem Affluent Investor Confidence Index, which measures the investment confidence and outlook of households with $500,000 or more in investable assets, experienced a similar decline. The Affluent Index fell 8 points to -7, also a neutral reading. This is the third consecutive drop for the Affluent Index.
“Millionaires and the affluent both expressed concern about the economy and stock market conditions in April, with retirement also ranking as a key factor affecting their investment plans,” Walper noted.
