US Spending Decreases to Lowest Point in 2015 in September

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