Thursday, April 07, 2016
What America Thinks: Consumer Spending Update: Shop Shifting
In this month's Rasmussen Reports Consumer Spending Report, it's not a question of how much consumers are spending but rather where they're spending it.
Last month, the arrival of spring meant consumers planned more purchases on home improvements, household items and clothing and accessories. But with those purchases out of the way, consumers are now turning their eyes - and their wallets - to entertainment.
After hitting the highest level of spending intent since November in March, the index of anticipated spending on household items fell almost nine points in April, while projected spending on household improvements dropped four points. Planned spending on clothing, footwear and accessories also took a dip, down 6.5 points from the previous month.
The only category to see any growth in planned spending was personal entertainment, such as movies, sporting events or other hobbies and interests, although this finding was up only up one point from March to April. If last year is any indicator though, we should plan on seeing more growth in this area in the months to come.
Do consumers have summer travel on their minds?
For more information on Rasmussen Reports' consumer spending data, please send an e-mail to email@example.com.