Consumer Spending at Nine-Year High in July, at $109
by Justin McCarthy
Sixth consecutive month of $100+ spending averages
Highest spending average since May 2008
WASHINGTON, D.C. -- Americans' daily self-reports of spending averaged
$109 in July, the sixth month in a row in which spending has averaged
$100 or more. This is the highest spending average in Gallup's trend
since May 2008.
The July average is based on more than 14,000 interviews conducted as part
of Gallup Daily tracking throughout the month. Gallup asks Americans each
night to report how much they spent the previous day, excluding spending
on normal household bills and major purchases such as a home or car. The
measure gives an indication of discretionary spending.
The $6 increase from June is not statistically significant. In most years,
spending showed little or no change from June to July, though there was
$12 increase in 2016. The latest average is the highest for the month of July in Gallup's tracking.
Comparison of Average Daily Reports of Spending, July-August
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Spending Among Higher-, Lower-Income Americans Up Slightly
Spending among both higher- and lower-earning Americans was slightly up
in July and is among the highest in Gallup's recent trend. Higher
earners' spending has consistently been more than double that of lower earners.
Adults in households whose annual income is $90,000 or more reported a
spending average of $178 throughout July. Meanwhile, spending among Americans
in households earning less than $90,000 annually averaged $80.
With six consecutive months of average daily spending at or above $100,
Americans' spending levels are back to where they were before the
global financial crisis in 2008, and the latest figure is the second-highest
average in nearly a decade of Gallup's tracking. The elevated spending
levels are stable among both higher- and lower-earning Americans.
This is a strong start for the second half of 2017, but given August's
propensity for flat or lower spending, Americans' relatively high
spending average in July is not likely to hold.
Results for this Gallup poll are based on telephone interviews conducted
July 1-30, 2017, on the Gallup U.S. Daily survey, with a random sample
of 14,710 adults, aged 18 and older, living in all 50 U.S. states and
the District of Columbia. The margin of error for the spending mean is
±$6. All reported margins of sampling error include computed design
effects for weighting.
Each sample of national adults includes a minimum quota of 70% cellphone
respondents and 30% landline respondents, with additional minimum quotas
by time zone within region. Landline and cellular telephone numbers are
selected using random-digit-dial methods.