Gallup just released the results of a poll asking Americans how much money they spent in a day on discretionary items, excluding major home purchases and regular bills. Respondents are asked how much they spent “yesterday,” or the day before they were contacted by the pollster.
The results of this poll show a lot of seasonal variation in daily spending, with upticks during the summer months and before Christmas, and lower spending in the winter and fall. This means the most useful comparisons to make to the current poll are with responses from June in previous years.
Gallup noted that, while self-reported spending is up from the years following the financial crisis and the Great Recession, June 2015’s average daily spending of $90 is essentially unchanged from June 2013 and 2014:
NORM ‘n’ AL Note: You will see above that spending was substantially lower in the 2009 to 2012 period, when it slowly began to increase as people felt more confident about the US economy’s recovery. But if the economy IS recovering, why has discretionary spending remained level during the past three years? This is the question the Gallup poll is asking…along with many other Americans.
As always, posted for your edification and enlightenment by
NORM ‘n’ AL, Minneapolis