We'll see how consumer spending holds up in the coming months, but a new Gallup Poll finds that:
about a third of Americans, 32%, say they have been spending less in recent months, and that they intend to solidify this behavior as their "new, normal" pattern in the years ahead. Twenty-seven percent say they are saving more now and intend to make this their new, normal pattern in the years ahead.
Source: Gallup
I, like I would assume the bulk of you readers, feel as though the change in spending habits is secular and not going back to that patterns of the last 10 years +. That being said, I question the accuracy of polls.
ReplyDeleteFor instance, the January consumption spiked and February was still positive probably due to tax return checks. Nonetheless that money was still spent. In short, I question the answer given on polls when compared with the reality of a nice sized inflow of cash.
I think the easy answer for anyone is to say they will spend less, just as it is the easy answer to say you will start eating healthier (I do this all the time).
ReplyDeleteThe question is will people actually do it... I agree with your assessment.