Fewer New Millionaires in U.S. Thanks to Economic Slump

Friday, April 4, 2008 3:20 p.m. EDT

The continuing global economic turmoil is taking its toll on the wealthy — as fewer new millionaires are being minted.
A report by the Spectrem Group, a financial consulting company in Chicago, shows the number of new millionaires in the U.S. grew by a mere two percent last year, down significantly from a growth rate of eight percent in 2006, 11 percent in 2005, and 21 percent in 2004.

"The substantial gains in the number of millionaire households we’ve seen since the end of the dot-com bust has all but ground to halt,â€