Millionaires' confidence in U.S. economy drops to lowest level since 2006
The wealthiest Americans are also the most cautious about the state of the U.S. economy in the years since the financial crisis.
Investor sentiment on the economy for the next year plummeted by 14 points to negative 7, the lowest level since 2006 according to Fidelity Investments’ Millionaire Outlook Confidence Index.
For rich Americans, there was also a “significant gap” between their current confidence and their future confidence on financial factors like retirement savings, debt management and real estate.
The study surveyed more than 2,000 investors, including over 1,000 millionaires about the economy, the stock market, real estate values and consumer and business spending.
Lackluster confidence in the report shows that some investors are worried that the longest economic expansion on record could be coming to an end, or at least slowing down, despite economic indicators that suggest otherwise.