Affluent investors seem to be slightly more confident, according to the latest results of the Spectrem Affluent Investor Confidence Index, released Wednesday.
This trend is supported by the latest results of the broader Consumer Confidence Index, which dropped a bit in June, the Conference Board said Tuesday, but revealed in increase in expectations for current economic conditions. In addition, the Bloomberg Consumer Comfort Index rose a few percentage points in June, the news group said Tuesday.
Spectrem, which surveys about 200 investors with $500,000 and up in investable assets, says that the Spectrem Affluent Investor Confidence Index gained 1 point in June and stands at negative 4, reversing two consecutive months of declines. The Spectrem Millionaire Investor Confidence Index, however, dipped two points to 1, a five-month low.
“Millionaires in particular continue to have concerns about the prolonged economic downturn,” said George H. Walper Jr., president of Spectrem Group, in a press release. “This is reflected in the Household Outlook component of the index. The overall Millionaire Outlook dropped to its lowest reading since last November, while millionaire confidence in the economy posted its lowest reading in eight months.”
When asked what they consider to be the most serious threat to achieving their financial goals, affluent investors cite the political climate, Walper adds. Millionaires, though, are most likely to consider the ongoing eurozone crisis to be the most serious threat to achieving their financial goals.