Contact Us
News

Consumer Spending Continues To Fall

Consumer Spending Continues To Fall

Americans in January continued to hold onto money they saved at the pump as consumer spending fell 0.2%. It was the second consecutive monthly decline and came in spite of a 0.9% uptick in real disposable income, a measure that includes inflation and taxes. Economists polled by the Wall Street Journal had predicted a 0.1% dip. Today's Commerce Department report includes consumer spending on gas, which has crumbled on account of plunging oil prices. A report last month showed a 0.1% rise in spending when gasoline purchases, building and car service purchases were excluded. 

Money saved at the pump translated to actual savings, with that rate jumping to 5.5%, its highest level since 2012. Consumer spending comprises about 70% of the US's total economic output; it fell 0.3% last December. 

Related Topics: consumer spending
WASHINGTON DC 08.16.2017

ALEXANDRIA STATE OF THE MARKET

The Premier Event on Alexandria's CRE Market

Joseph Ney
Reingold
AJ Jackson
EYA
Austin Flajser
Carr Hospitality/Carr City Centers