Consumers household improvement spending intentions were unchanged from July to August, according to Discover's U.S. Spending Monitor. The monitor was down 1.4 points in August 2013 to 91.0, which Discover said was a response to a decline in consumers' economic confidence.
August 2013 was the first month in a year that more than half of respondents, mostly in middle and upper economic brackets, said they see the economy as getting worse.
The share of consumers who saw the economy as good or excellent was down 3 points to 17% in August 2013. The share of consumers that saw the economy as getting worse was up 3 points to 51%--it was the first time since September 2012 that this number was more than half of consumers.
Consumers' outlook on personal finances held steady in August. The share of consumers who saw finances getting better in the next month increased one point to 24%.
Discover said back-to-school shopping might have correlated with a lower number of consumers who expect to have money left over after paying their bills. In August 2013, 44% consumers expected to have money left over, from 47% in the July report.
The overall share of consumers who rate their current personal finances as good or excellent was unchanged in August at 34%.
Consumers who said they increased their spending in the current month: 39% up from 36% in July.
Consumers planning to spend more in the next 30 days was down 2 points to 28%.
However, the report found that consumers' intent to spend more on discretionary personal purchases was up 2 points to 11%.
Consumers who intend to spend more on household expenses declined 1 point to 38%.
Consumers' intent to spend more on household improvements remained at 16%.
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