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W&AM Insights: Positive Economic Outlook Levels Off At The End of 2019

ECONOMIC OUTLOOK

The W&AM Economic Optimism trend line declined in December 2019 among both key audiences, including a 9% decrease (to 62%) among Mass Affluent, while HNW optimism shifted down from 79% to 75% month over month.  However, this followed November’s 6-month record high in optimism for Mass Affluent respondents and its 12-month high among HNW.

INVESTING OUTLOOK

The W&AM Investment Optimism rating increased from 30% to 36% in December in the HNW segment, following a recent downward trend, indicating that more than 1 in 3 investors already with over $1 million in assets plans to increase their net investments within the next three months.  Investment outlook remains mostly unchanged among Mass Affluent this month.

PERSPECTIVE

Despite decreases in economic optimism in December 2019, the majority of Mass Affluent and HNW investors remain positive about the upcoming market outlook in the US.  December’s results not only reflect a seasonality seen in past years with a downturn in positivity as the calendar turns, but they also result in Phoenix’s W&AM Economic Optimism merely reverting in line with 2019 averages, and thus do not necessarily indicate a notable trend of pessimism in the market.

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