The US Spending Monitor decreased 3.8 points in September, reaching its lowest point in 2015 and the lowest point since August 2014. Retail spending index decreased to 3 points under the 12-month average. The decrease comes with increased negative views on the economy, spending and personal finances. Over 60% of respondents rated their personal finances as fair or poor while 35.8% stated finances were getting worse. 62.7% of respondents have 3 months or less of emergency savings, while
23.7% have none.
Retail spending continues its 4-month continuous decline. 38.2% of adults are spending less on household expenses, 37% spending less on household improvements and 33.3% spending less on clothing, footwear and accessories. The household improvements category has the highest percentage planning to spend in this category, but with only 18.9% expecting to spend more in the next month.
A majority of retail purchases are expected to be made at a retail store next month. It is expected that purchases made using mobile devices or personal computers will increase as the holiday season approaches and pre-Cyber Monday deals start.
Source: Chain Store Guide
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