Mass affluent households have a pessimistic near-term economic outlook, according to the latest Phoenix Global Wealth Monitor. The report finds 60% of mass affluent households have a negative view of the economy, a figure that was similar, yet lower, than a year ago (66% in August and September 2011).
Having spent much of 2012 with dampened enthusiasm about adding to their portfolios, heading into the last months of the year, there is a five percentage point increase in near-term intentions among mass affluents to invest more (from 24% in June and July to 29% in August and September).
However, following their "typical contrarian economic outlook," wealth households (those that Phoenix defines as millionaires) turned more bullish over the U.S. economy in the late August and early September measurement.
