Daily spending flatlines at $90 in June: Gallup
WASHINGTON (7/7/15)--The average consumer’s daily spending total stood pat at $90 in June, according to Gallup’s daily spending index, released last week.
The spending measure asks consumers to estimate how much they spent “yesterday” on food and gas, in stores, and online--larger purchases and monthly bills are not included--to get a handle on typical American discretionary spending habits.
After polling more than 14,000 adults in June, Gallup found that average daily spending continues to hover near $90, compared with the $70 average seen between 2009 and 2012.
Spending fell $1 in June, though Gallup has found that June typically sees a slight drop, followed by a quick rebound in spending in July.
Between 2009 and 2014, spending fell an average of $3 between May and June.
“From a recent vantage point, the lack of increase in spending could be related to Americans’ stagnant view of the economy as a whole,” Gallup said. “Gas prices dipped slightly during the second half of June, so the lower costs could mean Americans are recalibrating their spending in accordance with the relief they’re feeling at the pump.”