For the second month in a row, U.S. consumer spending growth is trending lower. The October ChangeWave survey also shows a weakening in consumer expectations and confidence. On a brighter note, early holiday shopping indicators show spending intentions are up compared to a year ago. The survey of 1,961 consumers – completed October 17 – shows a spending dip across most categories. But even with sluggish electronics spending, Amazon is seeing an uptick in home entertainment shopping and Apple continues to outperform in terms of planned buying. Importantly, overall consumer spending remains in positive territory and despite the slowdown these are still the strongest October results of the past four years. Report details include:
The complete report is available here. |
October Consumer Spending Report
Consumer Spending Growth Slows for October - but Holiday Outlook is Hopeful
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