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The overall Spectrem Affluent Household Outlook, which is based on investor attitudes regarding issues that impact their daily lives, dropped precipitously from 16.7 to -10.7, its lowest level since February 2009.
Every Outlook component posted sharp declines. Investors overall expressed the least confidence in Household Assets, which dropped from 26.6 points to -12.2. The Economy fell from 4.5 points to -26. Attitudes toward Company Health also sagged, dropping from 16.7 points to -4.6, as did Household Income, which dipped from 19.7 points to 0.
The Outlook was particularly gloomy in Non-Millionaire households. The overall Non-Millionaire Outlook plummeted from 21.6 points to -21.8, the lowest level since February 2009. Confidence in Household Assets saw a severe 46.9 point drop to -26.5. Household Income dropped 44.8 points to -11.3. Attitudes toward Company Health and the Economy also declined more than 40 points each to 41.5 and 40.6, respectively.
Millionaire attitudes were down as well, but the declines were not as dramatic, indicating more optimism. The overall Millionaire Outlook dropped just 12.3 points to 0.8. Confidence in Household Income actually rose slightly from 9.7 points to 12. But attitudes were less rosy toward Household Assets (which dropped 27.7 points to 2.5, and the Economy, which fell 20 points to -18.
Comments
I hope that the outlook for business owners improves. Everyone is hurting in this economy and the ones that control the hiring are the key to a turnaround. Maybe businesses should look into a Detroit payroll solutions company to see if they can actually hire more people. The economy will turn around but it doesn't look like it will anytime soon.