The Spectrem Millionaire Investor Confidence Index sank for a fourth consecutive month in September, falling one point to minus 10 from August's four-point drop. The September results bring the index to its lowest level since August 2010, when it stood at minus 18.
According to Chicago-based Spectrem's news release, however, the millionaire index "remains in neutral territory. On the other hand, the Spectrem Affluent Investor Confidence Index, which measures the investment confidence and outlook of households with $500,000 or more in investable assets, gained two points in September to minus 1—which is mildly bearish.
"Millionaires' investment confidence fell again in September, further extending a decline that began back in June 2011," said Spectrem Group President George H. Walper Jr. (left) in a statement. "The broader affluent population posted a small gain in confidence during the month, but it remains in mildly bearish territory."
Importantly, Walper added, both groups were heavily focused on the economy in September, "suggesting that continued uncertain economic news will bode poorly for their investment confidence as we move further into the fall."
