The mixed picture we reported back in June has worsened in ChangeWave’s July consumer spending survey. And for the first time in four months we’re seeing an actual pullback in the 90-day spending outlook going forward.
The ChangeWave survey of 2,681 U.S. consumers, completed July 6th, has also picked up a significant worsening in consumer sentiment and expectations.
Spending on travel/vacation, durable goods for the home, and consumer electronics all edged downward in the current survey, even as automobile and restaurant spending stayed flat. But is this new pullback simply a case of summer doldrums and the normal type of bumpiness we also saw coming out of the last recession - or is it the start of a further sustained slowdown?
(0 items)
