The Spectrem Affluent Household Outlook surged 12.79 points to 17.89, regaining nearly all the ground it lost after plunging more than 13 points in October.
Despite headlines dominated by the user-unfriendly Affordable Care Act website and the attending low approval ratings for the President over the administration’s rollout of his signature legislation, Affluent investors expressed a renewed and reinvigorated confidence in four financial factors that impact their daily lives.
The Economy jumped 19.45 points to 10.96, while Household Assets increased 17.27 points to 37.27, the highest reading since July 2007. Household Income gained 6.18 points to 14.02, a four-month high, and Company Health gained 8.27 points to 9.32, again, regaining much of the ground lost in October.
Non-Millionaire investors seem to be most shaken by recent events in Washington. The Non-Millionaire Outlook fell 8.46 points to -13.72, an eight-month low and the third consecutive month the Non-Millionaire Outlook has been in negative territory. This last occurred between November 2012 and January 2013.
Company Health dropped 15.33 points to -14.76, a five-month low. The Economy dropped 1044 points to -22.73, a 10-month low. Household Income fell 6.05 points to -12.78, a three-month low, while Household Assets dipped 2.02 points to -4.60.
The Millionaire Household Outlook is significantly higher than its Non-Millionaire counterpart, but each component suffered drastic drops, indicating, too, a similar concern over how recent events are impacting their financial situation.
Among Millionaire investors surveyed, the Economy dropped 23.63 points to 4.66, the largest month-to-month drop in a year, while Household Assets fell 18.81 points to 42.72. Company Health fell 7.05 points to 15.65 and Household Income dipped 1.35 points to 26.89. Tellingly, the all of the Millionaire Household Outlook components posted positive readings in October, while the Non-Millionaire Household Outlook components were all in negative territory.