American's Daily Self Spending Shows Growth

In October, Americans' daily self-reports of spending averaged $92, up $4 from September. This is just above the $81 to $91 range seen since January 2015. Compared with Octobers in prior years, last month's $92 average is similar to readings from 2008 ($91), 2013 ($88) and 2014, but it is significantly higher than the October averages in 2009-2012, which ranged from $63 to $72.

Depending on November's spending figure, 2015 could follow the autumn spending pattern of the previous two years, as well as those of 2010 and 2011, in which spending increased in both October and November. September-to-October changes have seen mixed results. In recent years, spending was slightly higher in October. In some years, such as 2009 and 2012, spending dipped slightly or was flat. In 2008, though, average daily spending fell $8 from September to October at the onset of the economic crisis.

 Definition:
Gallup's self-reported Consumer Spending measure is based on a question that Gallup tracks daily, asking a nationally representative sample of about 500 adults, aged 18 and older, and reports monthly based on approximately 14,000 interviews. Gallup asks Americans each day to estimate the amount of money they spent "yesterday," excluding the purchase of a home, an automobile or normal household bills. The survey is conducted with respondents contacted on landlines and cellphones.