How Do Millionaires Expect the Economy to Perform Next Year?
December 26, 2019
The nation’s wealthiest are cautiously optimistic about the coming year. Just over half, 54 percent, of the millionaires surveyed by CNBC expect the S&P 500 to gain at least 5 percent in 2020. This is down from the 65 percent of respondents who expected 5 percent gains when the survey was conducted in spring.
At the same time, 39 percent anticipate a weakening economy next year, a big jump from the 14 percent who felt the same way in the spring survey. Thirty-eight percent expect the economy to be about the same, while 27 percent think it will get stronger.
The most commonly cited threat to the economy is government dysfunction, with 40 percent of the respondents citing this as the biggest risk to economic growth.