Wealthiest 10% of Americans Expect Stocks, Economy, and Personal Earnings to Rise in New Survey
The seventh in a continuing series of twice-yearly surveys by The American Affluence Research Center (AARC) reveals continued optimism in the 12- month economic outlook of the wealthiest 10% of Americans, the 11 million households representing about half of all consumer income and spending and a third of the total US economy. - Affluent Consumer Expectation (ACE) Index of The American Affluence Research Center Looks Stronger Than The Consumer Confidence Surveys of The Conference Board and The University of Michigan
Miami, FL (PRWEB) May 25, 2005 -- The seventh in a continuing series of
twice-yearly surveys by The American Affluence Research Center (AARC) reveals
continued optimism in the 12- month economic outlook of the wealthiest 10% of
Americans, the 11 million households representing about half of all consumer
income and spending and a third of the total US economy.
The ACE index
for the overall 12-month economic outlook remains at a relatively positive
level, as does its individual components of business conditions, the stock
market, and household income. The index, which declined only slightly from the
Fall 2004 Report due to a rise in the outlook for household income offsetting
most of the declines in the other two components, remains in positive territory
despite an 18-month decline to its historic low.
Just released, the AARC
report, The Luxury Market: Spring 2005 Survey of Affluent Americans, reflects a
more optimistic outlook than the Conference Board’s Leading Index, Consumer
Confidence Index, and Consumer Expectations Index, with the latter down for the
fourth consecutive month to the lowest level since July 2003. The University of
Michigan’s Consumer Sentiment Index, reflecting weakness in the Consumer
Expectations Index, also declined in April for a fourth consecutive month to its
lowest level since September 2003.
The affluent gave somewhat mixed
signals about their future spending plans in the AARC survey. Plans for major
purchases such as the acquisition of vacation homes, home remodeling, and
cruises are at historic highs. However, plans to acquire motor vehicles (now at
a historic low), boats, and primary residences have declined over the past 18
months.
The AARC surveys also track spending plans over the next 12
months for 17 categories of goods and services, including major appliances, home
computers, furniture/furnishings, entertainment equipment, casual and upscale
dining out, entertainment, recreation, domestic and international travel,
designer and non-designer apparel, collectibles, fine jewelry, and political and
charitable contributions.
Of the 17 future spending indexes, eight are
at positive readings and nine at negative readings. Of the seven categories at
historic highs, four remain at negative readings. Two categories are at historic
lows: home computer equipment and fine jewelry/watches.
The new AARC
survey provides information on brand quality rankings for eight (8) different
product categories (fine watches, fine jewelry, automobiles, lady’s
designer/couture apparel, major home appliances, home entertainment equipment,
and cruise lines).
Data on the awareness of, ownership of, and
intentions to purchase variations of the new concepts of fractional ownership
and membership clubs for vacation homes, private jets, large boats, and exotic
cars is also provided in AARC’s new report.
Other new information
includes identification of the employment status of the female head of household
and the household decision makers for seven major spending categories.
Highlights of the national survey of 346 men and women in the wealthiest
10% of American households can be found on the AARC website, www.affluenceresearch.org. The survey participants have an
average income of $369,000 and an average net worth of almost $2.7 million. The
survey has a 5% margin of error at the 95% confidence level.
The complete
32-page report containing 30 tables may be ordered by calling 305-933-4887 or at
e-mail protected from spam bots. Contact Ron Kurtz at AARC for press
copies.
AARC provides marketing research and consulting services that
focus on the lifestyles, attitudes, and purchasing behavior of the most affluent
segments of the population.
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Source : http://www.prweb.com/releases/2005/5/prweb244255.htm