Millionaires' investing confidence fell to its lowest level in the past 12 months in September, according to data released Wednesday by Spectrem Group.
The Spectrem Millionaire Index declined last month to an all-time low of 5, occupying neutral territory for the first time in 12 months. Millionaires had been stubbornly optimistic until last month, remaining mildly bullish from October 2004 through August of this year despite rising pessimism among affluent people overall.
The Spectrem Affluent Investor Index, which measures the investment outlook of households with $500,000 or more of investable assets, remained flat in September at its all-time low of minus-one. This index has been in the neutral zone for 10 of the past 12 months.
Both indexes were started in February 2004.
