U.S. Consumer Spending Climbs Close to a Four-Year High

WASHINGTON, D.C. -- Americans' self-reported daily spending averaged $77 in August, up from $73 in July, and the best August spending level recorded since 2008. It is also the highest average monthly spending since December 2008.



The results are based on Gallup Daily tracking from Aug. 1-31. Each night, Gallup asks Americans to report how much they spent the prior day apart from normal household bills or the purchase of a car or home.

Lower- and Middle-Income Consumer Spending Ticks Up

Spending among American households with annual incomes of $90,000 or less averaged $63 in August, up from $59 in July -- the highest level since December 2011. Upper-income spending, which has been on a generally upward trajectory so far in 2012, was unchanged in August, averaging $135 as it did in July.



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Bottom Line
U.S. consumer spending climbed to its highest level is nearly four years in August 2012 at the same time that job creation appears to be improving. Gallup's Job Creation Index rose to +19 in August, up from +17 in July, and the payroll company Automatic Data Processing Inc., reported job gains last month that beat the consensus expectations. Additionally, Gallup's unadjusted unemployment rate was down in August, although the adjusted rate rose. Still, there may be other factors involved, including back-to-school spending.


http://www.gallup.com/poll/157295/consumer-spending-climbs-close-four-year-high.aspx