U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.
The Deloitte Consumer Spending Index remained flat in July, but a recent survey showed shoppers have a positive, although still tentative, outlook on the economy for the back-to-school shopping season.
The Consumer Reports Index, an overall measure of Americans’ personal financial health, shows Americans are reporting significantly fewer financial troubles, Consumer Reports National Research Center announced.
Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.
More than half of consumers say they plan to spend $500 or more on gifts this holiday season, slightly more than what they planned on spending in 2011, according to PriceGrabber’s winter holiday shopping survey.
A survey released by the National Retail Federation and conducted by BIGInsight found that the average parent will spend $688.62 on back-to-school items this year, compared with $603.63 last year. Total spending is expected to reach $30.3 billion.
NEW YORK — Within the next three months, a gallon of gas is expected to exceed $4.11, which previously marked the highest historical U.S. retail price set in July 2008. Prior to that, the highest that gas prices had ever been was $3.46 in March 1981.