In April, Americans' daily self-reports of spending averaged $95, up
significantly from $89 in March. The latest spending figure represents
the highest average for the month of April in Gallup's nine-year trend.
The
$6 increase in daily spending in April is on the high side for changes
in April over March. Since the recession, April spending has increased
by nearly this much -- $5 -- only once, in 2015, whereas in all other
years since 2010, April spending was roughly the same as in March.
More
broadly, spending averages have increased quite a bit since the
recession and immediate post-recession years of 2009 to 2011, when
monthly figures dipped as low as $58. They began to climb over the
course of 2012 and 2013, and have since held at those higher levels.
Federal
statistics reveal a sluggish start for consumer spending in the year's
first quarter. But April could be the turning of a corner for spending,
with a relatively strong pickup from March's average. April's spending
average is one of the strongest monthly figures in nearly a decade, and
could bode well for Americans' spending in the second quarter.
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