Confidence among millionaires fell last month as gasoline prices rose sharply, according to Spectrem Group.
The Spectrem Millionaire Investor Index put out monthly by the Chicago fell 3 points in April to what the firm called a "mildly bullish" 16, its lowest level since November 2005. It was the second decline in a row after four months of increases. The latest results were announced Wednesday. The Spectrem Affluent Investor Index, which tracks information from investors with at least $500,000 of assets, also fell 3 points, to 7. A 3-point drop in March had dragged the index down into "neutral" territory, where it remained in April.
The Spectrem Affluent Investor Index draws from 250 10-minute telephone interviews Millionaire Investor Index from 100 monthly interviews.
