Affluent Americans Feeling Optimistic About Economy

By Rieva Lesonsky

How are affluent Americans feeling about the economy in general, and their personal economic outlook, as 2012 gets well underway? Overall, affluent Americans are feeling good—in fact, as of December, 40 percent of them were optimistic about their economic outlook. That’s up from just 30 percent in September, and the highest level of optimism recorded in nearly six months by Ipsos Mendelsohn’s Affluent Barometer, a monthly online survey that tracks the lives, lifestyles and attitudes of 58.5 million adults with at least $100,000 in annual household income.

Ipsos says the increased optimism is partly due to perceived improvements in the job market and consumer spending. However, wealthy Americans aren’t entirely enthusiastic—some 37 percent are pessimistic about the nation’s economic outlook, primarily due to concerns about the federal government’s spending and its general dysfunction.

In fact, less than one-third (30 percent) of affluent Americans believe 2012 will be a good year for the overall U.S. economy. That may sound pathetic, but just 8 percent thought 2011 was a good year, so 30 percent is actually a substantial increase. Affluents are quite guarded about the prospects for a full economic recovery, with more than half (53 percent) saying they do not expect a full recovery until 2013 or later. And just 7 percent think the recession has already ended.

What about personal economic outlook? Here’s what affluent Americans said:

• 56% said 2011 was a good year for themselves and their family
• 38% said 2011 was good for their career/finances
• Nearly two-thirds expect 2012 to be a good year for themselves and their family.
• 54% expect 2012 to be a good year for their career/finances

 Is the increased positive outlook just a “holiday bump”? While traditionally, optimism in this survey has spiked in December compared to November, this year’s increase was fairly small–from 36 percent who were optimistic in November 2011 to 40 percent who felt that way in December 2011.

Overall, Ipsos notes, affluent consumers are feeling hopeful and making positive resolutions for 2012. Eight in 10 survey respondents said they had set goals for themselves in 2012, with the most common goals being spending more time with family, saving money, and living healthier lifestyles.

This entry was posted on Wednesday, February 8th, 2012 at 6:00 am and is filed under Small Business, small business. You can follow any responses to this entry through the RSS 2.0 feed.


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