Report: Consumers Cautious About Spending Even as Confidence Rises
Jun 5, 2013
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Consumers who plan to spend more on home improvement in the month ahead, according to the Discover U.S. Spending Monitor in May 2013. The index was unchanged in the May report, at 17%.
Consumers reported stronger confidence in the economy but lower confidence in their personal finances, according to the report. The Spending Monitor dropped one point in May to 92.6.
The report showed that consumers' overall spending intentions remained the same in May 2013, and said consumers were more likely to increase their discretionary spending in areas such as home improvements, as well as personal purchases and major purchases such as a vacation.
May respondents intending to increase their spending in the month to come remained relatively flat--decreasing 1%, to 27%.
Slightly more consumers plan to spend the same amount in the coming month. This index was up 2% to 52%.
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