Even as Wall Street soars, consumer spending is down 23% from the same week a year ago
November 17, 2009There appears to be little holiday cheer on Main Street, according to Gallup’s key economic indicators, as consumer spending was down 23% last week from the same week last year. Gallup’s Economic Confidence Index and Job Creation Index remained essentially unchanged from the previous week.
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November 17, 2009Americans reported spending an average of $62 per day last week, down from $65 the week prior and $81 a year ago -- not yet signaling a boost for the holiday spending season.
Still, fewer now than last year say they will be spending less than a year ago
November 16, 2009Americans’ estimate of the total amount they will spend on Christmas gifts this year is now $638, essentially matching the record lows from November and December 2008. Fewer Americans say they will be spending less on gifts this year than said this a year ago, while most say they will spend the same amount.
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November 16, 2009Americans in November say they plan to roughly spend $638 on Christmas gifts this year, down from the $740 they projected in October and nearly identical to the $639 they projected last December.
Double-digit unemployment and higher gas prices send confidence and spending tumbling
November 10, 2009Gallup’s Economic Confidence Index fell to a 15-week low as a 26-year high in the unemployment rate and a new 2009 high in gas prices more than offset any potential confidence benefits associated with the gains in the Dow.
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November 10, 2009American workers last week reported similar job market conditions as during the prior week, while economic confidence declined.
Economic confidence, jobs, and spending improve around Halloween
November 3, 2009Halloween may have buoyed consumer spirits as Gallup’s Economic Confidence Index, Job Creation Index, and Consumer Spending measure all rebounded from prior- week declines -- returning to or nearing their best levels of the past several weeks and reflecting the variability of today’s consumer economic perceptions.
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November 3, 2009Gallup’s Job Creation Index increased to +3 last week, closing in on its high for the year. Gallup's Economic Confidence and Consumer Spending measures also improved compared with the prior week.
Job creation down but still positive, while spending falls back to the new normal
October 27, 2009Economic confidence fell slightly last week from the prior week and now stands well below where it was a month ago. The job situation deteriorated from its 2009 high of the prior week, while consumer spending fell back to its 2009 trend line from its paycheck- and Halloween-inspired high.
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October 27, 2009Gallup's Economic Confidence, Job Creation, and Consumer Spending measures all trended downward last week.
