Merchants work after the opening bell on the New York Inventory Change (NYSE) on August 5, 2019 in New York Metropolis.JOHANNES EISELE / AFP / Gett
Merchants work after the opening bell on the New York Inventory Change (NYSE) on August 5, 2019 in New York Metropolis.
JOHANNES EISELE / AFP / Getty Photographs
America’s rich are exhibiting elevated ranges of hysteria concerning the economic system and inventory market headed into 2020, however total sentiment from the rich stays baseline optimistic. Most millionaires don’t anticipate large issues, or the U.S. economic system going over a cliff, within the subsequent 12 months, in line with the outcomes of the brand new CNBC Millionaire Survey.
After a recession-less decade and a inventory growth for the file books in 2019, the extra cautious view from millionaire buyers on the subject of their cash isn’t a surprise.
The 39% of millionaires who assume the economic system will weaken subsequent 12 months represents a major rise, of 14%, from the Spring survey, however the majority of the rich anticipate the economic system to “be the identical” (38%) or “get stronger” (27%).
In the meantime, the 54% of millionaires who anticipate a achieve of 5% or extra from the S&P 500 in 2020 is down from 65% within the Spring 2019 survey.
The CNBC Millionaire Survey for the Fall 2019 was performed in November amongst 700 folks with investable property of $1 million or extra.
Political partisanship performs a giant function within the survey responses. Amongst Democrats, 62% assume the economy will weaken subsequent 12 months versus solely 19% of Republicans. Democrats are much more seemingly (43%) to say…