Advanced Search

U.S. Consumer Spending is Unchanged in June

Jul 6, 2012 12:31 PM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... The U.S. consumer spending pattern remained stagnant in June. Gallup  reported that consumers spent  $70 per day on average, at total that is basically unchanged between June 2011 and 2010. 

So far in 2012, Gallup revealed that  average daily spending has ranged from $63 (in January and February) to $74 (in March), which is  in line with the "new normal" in place since 2009, narrowly ranging from $58 to $76, according to Gallup. Daily spending in June 2009 was $61; however, in June 2008, it was $104.

The average daily spending among upper-income consumers, or those earning $90,000 or more annually, fell to $116 in June from $125 one year ago. Gallup concluded that this drop mirrored a decline in upper-income consumer confidence this past month. 

Upper-income consumers'  willingness to spend may have been hampered by the compounded effect of the stock market's uneven performance in June and a sharp decline in the market in May, according to the research.

Tags: Consumers, income, Jeff Miller, spending
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.