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The Affluent Market Tracking Study #10: Fall 2006 Semi-Annual Survey of the Wealthiest 10% of U.S. HouseholdsPublished by: American Affluence Research Center Published: Oct. 12, 2006 Table of Contents
AbstractThe tenth in an ongoing series of research reports based on twice yearly surveys of the most affluent 10% of U.S. households (a total of 11.2 million households with an average income of $323,000 and average net worth of $2.7 million). These surveys regularly measure and track their current views as well as their 12-month outlook for the economy, the stock market and their personal earnings, savings, and investment objectives.The survey tracks plans for major expenditures (automobiles, boats, cruises, vacation homes, primary residences, and major home remodeling) for the next 12 months. The survey also tracks anticipated changes in spending in 17 categories of products and services. These include fine jewelry and watches, domestic and international travel, dining in casual and upscale restaurants, furniture, major appliances, entertainment equipment, home computer equipment, entertainment, recreational activities, collectibles, designer and non-designer apparel, and charitable and political contributions. For much of the preceding, the report shows historical trend data and data by demographic segment within the overall affluent population. New information in the Fall 2006 report is derived from a series of questions about end of year holiday gift expenditures, which are estimated to total $31 billion (about 15% of the total holiday gift market) by the affluent market represented by this survey. This includes data by type of recipient (spouse, children, other relatives, and friends) on actual 2005 expenditures, planned expenditures for 2006, types of gifts to be given, types of outlets where gifts will be purchased, when shopping will be done, and types of gifts that respondents would like to receive. Explanation of Business, Economic, and Spending Indexes Throughout this report, various indexes are shown. All are calculated in the same way. Questions for which indexes are calculated are all constructed in a similar fashion. The respondent is allowed to pick one of three choices. These choices may be “more", “same”, and "less”; “positive”, “neutral”, and “negative”; "better ", "same", and "worse "; or “higher”, “same”, and “lower”. The indexes range from a high of 200 to a low of zero. An index of 100 is the neutral point and means that as many people selected the “more/higher/better” response as the “less/lower/worse” answer. An index of 200 would indicate that all survey respondents selected the “more/higher/better” option. An index of zero would indicate that all respondents selected the “less/lower/worse” option. These surveys focus on the 11.2 million households that represent the wealthiest 10% of all U.S. households in terms of net worth. Based on the latest research available from The Federal Reserve Board these households:
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