Negative Attitudes Towards Economy Drives Down Outlook

The Spectrem Affluent Household Outlook, which is based on investor attitudes regarding issues that impact their daily lives, dropped 19.26 points to -18.76, its lowest reading since February 2009.

The sharp decrease was driven by the negative overall attitude toward the Economy, which plummeted to -44.74 points from -14.51 last month. All other Outlook components also posted declines. Attitudes toward Household Assets fell 34.93 points to -20.93. Household Income declined 9.21 points to -6.11. Company Health dipped to -3.28 from 0.56.

While Non-Millionaire households posted more pessimistic Outlook readings, the drops in each component were more precipitous in Millionaire households. The overall Millionaire Outlook dropped 20.65 points to -15.15. The attitude toward the Economy dropped 50.10 points to -39.20. Household Assets dropped 34.80 points to -17.50, while Household Income dropped 9.86 points to -3.76. Company Health dipped 5.54 points to -0.14.

The overall Non-Millionaire Outlook dropped 8.69 points to -22.49. Household Assets dropped 26.77 points to -24.47. The Economy, at -50.45, the lowest reading since January 2008, dropped 22.85 points. Household Income dipped .73 points to -8.53. But while Non-Millionaires have less confidence in Company Health than Millionaires, this category actually rose 15.69 points to -6.51.