Thursday, October 06, 2016
Consumer Spending Update: Are Americans in a Pre-Holidays Lull?
Americans’ anticipated level of spending has pretty much plateaued through September and October, but past trends show us this may just be the calm before the holiday spending storm.
The number of consumers who say they will spend more in the month ahead on household items and clothing, footwear and accessories has held steady since at least June. But in both 2014 and 2015, those categories saw a spike in spending in November and December.
Those who plan to spend more money in general in October climbed slightly to 26% from 22% in September but is otherwise in line with earlier months. We’ll have to keep watching to see if consumers really are on a temporary spending hiatus before jumping in to the holiday shopping season.
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