Consumer Spending Remains Elevated

In May, Americans' daily self-reports of spending averaged $93, similar to the average $95 in April as well as in May 2015 ($91). The latest number indicates consumer spending remained elevated after an uptick in April but did not increase further.

The May results reflect two larger trends: generally higher spending in the spring months than in the winter months, and higher spending in recent years than from 2009 through early 2012. During that earlier period, as the U.S. suffered through recession and high unemployment, average daily reports of spending consistently held below $80. In late 2012, consumer activity began to pick up and continued to do so into 2013. Since May 2013, average spending has been $90.

Gallup has yet to see an increase in average spending from May to June in any of the prior eight years that it has tracked consumer spending. Thus, if history is a guide, one would expect June spending this year to be at or below May's level.