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Article: Self-Reported Consumer Spending Declines in Early March; Gallup's Consumer Spending Index shows upper-income Americans spending less.(Survey)
- Article from:
- Gallup Poll News Service
- Article date:
- March 16, 2009
CopyrightCOPYRIGHT 2009 Gallup Organization. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Dennis Jacobe, Chief Economist
Synopsis: While February's retail sales were down slightly less than expected, Gallup's self-reported Consumer Spending Index finds upper-income Americans in particular reporting spending less on average per day in early March than they did in February.
PRINCETON, NJ -- Americans' self-reported spending in stores, restaurants, gas stations, and online averaged $57 per day during the first 14 days of March -- down from $64 during both January and February.
The March 1-14 average is down 31% from the $83 of the same 14-day period a year ago. During March 12-14, consumer spending fell further to ...