Saturday, August 12, 2017

Spending Hasn’t Been This High in Almost a Decade

From eMarketing:

US consumer spending levels are nearly back to where they were before the global financial crisis in 2008, according to new survey data from Gallup.

Those polled spent an average of $109 per day in July, excluding spending on normal household bills and major purchases, such as a home or car. That was the highest figure reported by Gallup since May 2008, when the average hit $114 per day.

Daily average spending by consumers in the US fell precipitously soon after, thanks to the Great Recession.

The new data is something of a contrast to Gallup survey data released in May of this year, which found that 60% of financially worried consumers said they preferred saving to spending.

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