Overall self-reported daily US consumer spending in stores, restaurants, gas stations, and online averaged $64 per day in March 2011, according to Gallup data. That is up 10% from $58 in January 2011 and 5% from $61 in February 2011, but is essentially the same as the $63 of March 2010 (up 1.5%).
During the first three months of 2011, average daily consumer spending remained below the 2009-2010 “new normal” high of $68.
Upper-Income Spending Declines 8% in March
Spending among upper-income Americans (those making $90,000 or more annually) averaged $108 per day in March 2011, down almost 8% from $117 in February 2011, but up 6% from the $102 of January and 9% from $99 in March 2010.
Gallup notes these Americans have the disposable income to spend more freely when they choose. During the first three months of 2011, however, they kept their spending within the 2009-2010 upper-income “new normal” range of $98 to $123.
Lower- and Middle-Income Spending Up 10% M-O-M, but Also in ‘New Normal’
Lower- and middle-income Americans’ (those making less than $90,000 a year) self-reported spending averaged $57 per day during March 2011, up 14% from $50 in January 2011 and 10% from $52 in February 2011. Spending by these Americans remains about the same as the $58 of March 2010 (down 2%), and thus also within the “new normal” range.
Consumer Spending Mostly Similar in Feb. ’11
Overall self-reported daily consumer spending in stores, restaurants, gas stations, and online averaged $61 per day in February 2011, according to previous Gallup data. That was up 5% from $58 in January 2011 and 3% from $59 in February 2010, but still in the 2009-2010 “new normal” spending range and 42% below the $106 average of February 2008.
However, upper-income Americans spent an average of $117 per day in February 2011, up 15% from $102 in January 2011 and 19% from $98 in February 2010. Meanwhile, lower- and middle-income Americans’ self-reported spending averaged $52 per day during February 2011, up 4% from $50 in January but down 5% from $55 in February 2010.
About the Data: For Gallup Daily tracking, Gallup interviews approximately 1,000 national adults, aged 18 and older, each day The Gallup Job Creation Index results are based on a random sample of approximately 500 current full- and part-time employees each day.
