2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Gallup US Consumer Spending Measure  
Released On 3/6/2017 8:30:00 AM For Feb, 2017
PriorActual
level$88 $101 

Highlights
Americans' daily self-reports of spending climbed to an average of $101 in February. This is the highest average for the month of February since 2008, when spending averaged $106. The latest monthly average is up $13 from January's figure, but still lower than December's holiday-influenced $105.

It took eight years for Americans' spending to return to this pre-crisis level, as consumers' "new normal" aversion to spending took hold after the recession and ensuing periods of high unemployment. Their hesitancy began to ease in recent years, and average daily spending once again reached the $100 mark in July 2016. Spending rose to a nine-year high in December and returned to a triple-digit average again in February after a predictable seasonal drop in January. The January-to-February increase in 2017 is larger than usual, with this year's $13 bump outpacing the previous record $9 increases in 2008 and 2014.

Since 2008, Americans' spending in the month of February has generally been similar to their January spending, though it is common to see a slight increase in February after January's seasonal, post-holiday drop. The increase in spending was slight -- to $73 from $70 in January -- among Americans living in households that earn less than $90,000 annually. Consumers in households earning $90,000 or more annually spent significantly more in February than in January -- $168 versus $142. This $26 month-to-month increase is one of the largest for this group in its nine years of tracking.

Definition
Self-reported consumer spending is a new behavioral economics measure based on the individual reports of a random sample of Americans. The focus is on consumer discretionary spending, including on basics such as gas purchases at the pump and more optional impulse purchases online or in stores. Excluded are routine spending, including the consumer's monthly bills, and big purchase items such as automobiles and housing.  Why Investors Care
 

2017 Release Schedule
Released On: 1/42/63/64/35/16/57/38/79/510/211/612/4
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


powered by  [Econoday]