Skip to comments.May Consumer Spending Has Biggest Annual Drop Since Great Financial Crisis, Gallup Survey Finds
Posted on 06/01/2015 9:52:09 PM PDT by Nachum
It may not have the clout of the official monthly Dept of Commerce Retail Sales report not due out for two more weeks, but in retrospect considering how many credibility issues with seasonal adjustments government data has had in recent months, the Gallup Consumer Spending report may have become far more realistic than official government data.
In which case all hope of a Q2 GDP rebound abandon, ye who read this: after a strong April, in which the average consumer reported a daily spend of $91, $3 higher than a year prior, and the highest spending month since before the great financial crisis...
... in May things quickly deteriorated, with average daily spending in April and May unchanged at $91, despite a consistent jump the just concluded month of May in recent years, and despite the substantial jump in gas prices, which in May 2008 led to a $28 jump in average spending, and $10 in 2014.
(Excerpt) Read more at zerohedge.com ...
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What happens when the Great One is replaced by his no-charisma, even less competent, pant-suited successor?
Obamismo isn't any more transferable than Chavismo. A lot of people are in for a rude awakening.
This country still has quite a few years of life left in it. The reason I believe that is fedzilla has not made a serious move against our retirements (401k’s, etc..) yet. The country is up to its eyeballs in debt to be sure (and the municipal bonds are an even bigger time bomb) but compared to our personal wealth locked away, we are not anywhere near a true collapse yet (<—operative word, yet). What we are going through right now is the slow grind that runs us up to a collapse. Sorry to say, for the foreseeable future it is gonna get worse even before it gets biblical. There is still lots of life to squeeze out of the middle class and small business.
Time to start asking the candidates how much a gallon of milk and a loaf of bread costs.
Obama Guarantee of Equality for all Americans...
Whether you want it our not.
We’re fast approaching another “Summer of Recovery”...
What is this the fifth or sixth one?
Obama sure must be doing something right (to prevent a recovery).
Obama, the official Mulligan of the United States.
That’s MOTUS to those in the know... = :^)
I suspect a more relevant question will turn out to be, who will O'Malley pick as his VP? Uncle Bernie? Or Granny Warren?
Gasoline prices went up.
All my Money is going to pay my ridiculous Obamacare inflated Healthcare Premiums which I just heard will probably go up 20% in 2016.
Currently $1900 a Month. Soon to be $2400. Who needs Food?
“Time to start asking candidates how much a gallon of milk and a loaf of bread costs.”
As I recall the milk cost question tripped up President George H.W. Bush in a debate with Bill Clinton. Bush, the patrician, didn’t have a clue.
A good question for today might be to ask candidates when they last ate steak or prime rib. Beef, with the exception of hamburger, is unaffordable for most American families in the Obama economy. I suspect most of the announced candidates are frequently enjoying a juicy rib eye at Ruth Chris and on the backyard grill. We’ll never see Hillary asked that question unless she’s given it far enough in advance to respond with a focus group tested answer.
I guess all the snow and ice in May kept consumers home.
“Many found they owed more taxes or had their subsidies removed for Obamacare.”
I think you hit the nail right on the head. Unfortunate it’s not widely publicized - maybe a few more sheep would see the light.
I own a business that sells to both individuals and businesses. I report gross sales each quarter to the state of Texas for the assessment of Texas sales tax.
From the sales report there is no way to differentiate the type of sales (to individuals or to businesses) nor is there any other information that could possibly be used to calculate anything concerning how much (on average) a consumer spends verses what a business spends.
In the U.S. there are MILLIONS of businesses like mine that report along the same lines of information.
Now, with that in mind how could anyone possibly come up with the fictitious calculations about exactly how much a consumer spends each period of time.
These reports are made from pure “pixie dust” and are just about as far from reality as a belief in what Obama tells you.
Stalin's Forced Famine 1932-33 7,000,000 Deaths
Joseph Stalin, leader of the Soviet Union, set in motion events designed to cause a famine in the Ukraine to destroy the people there seeking independence from his rule.
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