AndreaGail
21st June 2010, 08:29 AM
The averge lower- and middle-class American spends about $59 a day, according to a new Gallup poll.
That's what the Gallup organization reported for consumers earning less than $90,000 a year. Gallup reports it was the same for April and May, while the lowest since January 2009 was $52 a month in February and March 2009; the highest was $62 in December 2009.
Upper-class consumers' self-reported spending rose 33 percent to an average of $145 a day, up from $109 a day in April and last May. It had dipped to its lowest at $98 a day in February.
Gallup stated that the lower- and middle-income numbers mean weak sales for retailers who depend on them.
Bundle.com said Gallup's numbers do not include buying a car or home and other normal household bills. That $59 would average to about $1,800 in May, according to Bundle.
The New York Times called the numbers imperfect, saying people's memory can be faulty, they may lie and numbers are not adjusted for inflation.
Gallup stated that the results come from telephone interviews with about 1,500 adults.
Spending was also up for all age groups except 50- to 64-year-olds and in all regions except the South.
Gallup said that overall consumer spending rose 14 percent in May, a figure driven by the upper-income spending increase. It suggested that the upper-income consumers have the disposable income to increase their spending but were holding back before May "in response to the length and depth of the recession, the financial crisis, and a general feeling of economic uncertainty."
The organization suggested that the upper-income consumers have "frugality fatigue," meaning they are tired of cutting back and are ready to spend.
http://www.newsnet5.com/dpp/money/consumer/poll%3A-average-american-spends-$59-a-day
That's what the Gallup organization reported for consumers earning less than $90,000 a year. Gallup reports it was the same for April and May, while the lowest since January 2009 was $52 a month in February and March 2009; the highest was $62 in December 2009.
Upper-class consumers' self-reported spending rose 33 percent to an average of $145 a day, up from $109 a day in April and last May. It had dipped to its lowest at $98 a day in February.
Gallup stated that the lower- and middle-income numbers mean weak sales for retailers who depend on them.
Bundle.com said Gallup's numbers do not include buying a car or home and other normal household bills. That $59 would average to about $1,800 in May, according to Bundle.
The New York Times called the numbers imperfect, saying people's memory can be faulty, they may lie and numbers are not adjusted for inflation.
Gallup stated that the results come from telephone interviews with about 1,500 adults.
Spending was also up for all age groups except 50- to 64-year-olds and in all regions except the South.
Gallup said that overall consumer spending rose 14 percent in May, a figure driven by the upper-income spending increase. It suggested that the upper-income consumers have the disposable income to increase their spending but were holding back before May "in response to the length and depth of the recession, the financial crisis, and a general feeling of economic uncertainty."
The organization suggested that the upper-income consumers have "frugality fatigue," meaning they are tired of cutting back and are ready to spend.
http://www.newsnet5.com/dpp/money/consumer/poll%3A-average-american-spends-$59-a-day