Consumer Spending – Where?
Source: Rebel Traders
The Gallup Poll data on consumer spending activity for September is out. And what we learn is that consumers are spending much less than at any other time in recent years.
The chart below shows that consumer spending, as measured by Gallup’s poll data, is right back to the lowest point observed since the Great Recession began.
(the red arrow points to the September 2010 data)
PRINCETON, NJ — Americans’ self-reported spending in stores, restaurants, gas stations, and online averaged $59 per day during the first four weeks of September. Consumer spending is down from August ($63) and July ($68), and now matches its lowest level of 2010. Current spending is lower than that of a year ago and far below spending in September 2008, at the start of the financial collapse. (Gallup)
Now compare this with the stock chart of the retail holders index. Notice the huge disconnect here?
The retail holders index (RTH) is only 7.8% below its all time high, while data showing the spending trends of consumers is now at the lows of the Great Recession.
Of course some companies have been increasing profit by cutting staff and reducing other overhead costs, this we know to be a fact. But how much can a company cut to keep raising profits? At some point retail stores need something that the trends show they are lacking… and that is customers!
Consumer Spending – Where? is a post from: Rebel Traders – Stock Market and Economic Analysis
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