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Affluent Investors Remain Optimistic About Direction of U.S. Economy

August 4, 2021

Economic Outlook

Phoenix Wealth & Affluent Monitor Economic Optimism decreased slightly among Mass Affluent households but increased among High Net Worth households in July 2021. Mass Affluent Optimism decreased from 64% in June to 60% in July, while in turn Pessimism increased four percentage points to 34%. Among HNW investors, Optimism increased from 59% in June to 64% in July – marking the second-highest level of HNW optimism since the initial outbreak of the pandemic, and ranking only behind the April 2021 peak of 68%.

Investing Outlook

The July 2021 Phoenix Wealth & Affluent Monitor Investment Outlook saw little change among Mass Affluent investors, with those who state that they will increase in their investments in the next three months decreasing just one percentage point to 39% and those who say their investments will remain unchanged increasing to 58% from 55%. The Investing Outlook among High Net Worth investors is similar to that of Mass Affluent investors. Those who believe they will increase their investments increased three percentage points to 38% in July while those who claim their investments will remain unchanged declined from 60% to 56% this month.


Despite the ongoing increase in COVID-19/Delta variant cases and a fear of subsequent economic volatility, affluent investors remained generally positive and optimistic through July 2021. Overall Economic Optimism this month for both Mass Affluent and HNW respondents remains in line with year-to-date results, indicating that so far, investors still feel positive about the upcoming three-month outlook of the U.S. economy. Similarly, roughly 4 in 10 affluent investors overall currently still plan to increase their net investments throughout the next three months, further reinforcing their general optimism about the economy. At this time, however, trend lines appear to have levelled off following strong rebounds throughout late 2020 and into the first half of 2021. It remains to be seen if current levels of optimism and investment likelihood represent the new “normal” for affluent investors, or if ratings may yet increase further – or perhaps be at risk of dropping again later this year due to new COVID-19 cases, travel restrictions, or any related economic fallout.


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