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Article: Nielsen: High Gas Prices Disrupt U.S. Consumer Spending, Leaving Less Money to Spend Elsewhere.
- Article from:
- Business Wire
- Article date:
- April 16, 2008
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New Report Shows Impact of Fluctuating Gas Prices on Consumer Shopping and Buying Behavior
SCHAUMBURG, Ill. -- Dramatic fluctuations in gas prices are disrupting U.S. consumer spending and expected to continue, leaving consumers with less money to spend at retail, entertainment and dining out, according to a new study by The Nielsen Company. Nielsen's research shows that in 2007, the gas share of consumers' weekly spending ranged from 12 to 16 percent. As gas prices continue to rise, Nielsen expects consumers' gas share of their weekly spend to rise to 19 percent.
"With gas prices expected to hit $4 per gallon this year, consumers will be spending ...