Consumers Plan to Keep Spending Steady Despite Economy
Oct 7, 2011
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Despite economic ups-and-downs, most Americans will continue spending and many are planning to buy home appliances, according to the latest American Express Spending & Saving Tracker. The survey was conducted in early September 2011, amidst news of continuing high unemployment and unexpectedly strong retail sales. It found that, in the next 6 months
• 21% of Americans plan to spend more, compared to the first half of the year (up 6% from this time last year).
• 43% expecting to spend the same, compared to the first half of the year (up 4% from this time last year).
Young professionals will be leading the new spending increases - 41% intend to spend more for year-end purchases, up 18% from last year's survey results.
43% of Americans plan to make a large purchase by the end of the year. This large purchase will be:
• TV: 16%
• Car: 15%
• Furniture: 14%
• end-of-year getaway: 12%
• household appliance: 10%
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