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Confidence suggests post-holiday return to less robust spending

spending confidence trends
Gen X consumers and the clothing category were the weakest links as a second straight monthly decline in spending confidence suggests a post-holiday return to less robust spending.

See more about holiday results here.

Millennials also showed weakness in their confidence to spend over the next 90 days—especially in discretionary categories to an even greater extent than Gen X.

The Gen X letup—which is quite pronounced over consecutive months—likely does not signal the start of a prolonged slowdown, given the boost that spending is likely to receive from tax cuts.

At the same time, the spending trend will continue to be marked by generational differences by category—even as e-commerce is favored over spending at stores:

These are among the takeaways from data through January from the Spending Confidence Index™, which is the proprietary index of consumer sentiment created by MacroSavvy™ based on data from Prosper Insights and Analytics™.

For more background about the Spending Confidence Index™ and its components, the white paper at this link explains why the new index is an improvement over existing measures of confidence.

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