Confidence grew among affluent investors and millionaires in December, according to an index published by Spectrem Group, a Chicago research firm.
It said Wednesday that its Spectrem Affluent Investor Index rose five points in December to a level of zero, ending 2007 with its second-biggest advance of the year.
The December increase in the index, which measures the investment outlook of households with $500,000 or more of investable assets, recouped the five-point November decline that took it to a near-record low.
Despite the advance, second in 2007 only to April's six-point gain, the index remains in neutral territory, where it has been since June.
Spectrem's Millionaire Investor Index also rose five points, partially offsetting the near-record 11-point November decline to end the year at a neutral level of eight.
George H. Walper Jr., Spectrem's president, said both indexes stand well below their January 2007 levels.
"With the economy ranking as the top concern for both millionaires and the affluent in terms of achieving their financial goals, the increased optimism of these groups may well be tested … through early 2008," he said.
In response to an open-ended question about the most serious threat to achieving their household financial goals, affluent investors in December cited the economy (19%), the political climate (12%), housing and real estate (8%), unemployment (8%), market conditions (7%), and health-related issues (5%).
About 18% had named the economy the last time this question was asked, in September.
Millionaires' concerns included the economy (19%), the political climate (11%), and market conditions (11%).
