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July 01, 2015 at 09:14 AM
The Spectrem Millionaire Investor Confidence Index plunged nine points to 6 from May to June, its lowest point in 16 months, Spectrem Group reported Tuesday.
Year over year, the index is down 10 points.
The Spectrem Affluent Investor Confidence Index fell two points in June, also to 6 — the first time since February 2010 the two indexes were recorded at the same level.
The indexes gauge the investment outlook of affluent households with more than $500,000 of investable assets and millionaire households with upward of $1 million of financial assets.
Several factors account for the decline in sentiment, Spectrem Group said.
Millionaire investors are growing more concerned about the effect on the economy of possible higher interest rates before year-end.
In addition, international investors are monitoring developments in China, whose economy is sputtering, and in Greece, which missed a 1.6 billion-euro loan payment to the International Monetary Fund on Tuesday.
And the Bureau of Economic Analysis estimated that in the first quarter, the real GDP declined at an annual rate of 0.2%.
Spectrem Group found that non-millionaire investors’ confidence in the economy and company health dropped precipitously in June, indicating, it said, that positive economic reports released during the month had not eased personal financial concerns.
