Among the affluent households, the average expenditure for December holiday gifts in 2013 is estimated to be $2,175 down 2.8% from 2012, according to a new survey of the wealthiest 10% of U.S. households by the American Affluence Research Center.
Consumer confidence unexpectedly dropped in August from a six-year high as Americans faced rising interest rates, according to the University of Michigan/Thomson Reuters preliminary index of consumer sentiment.
A report issued by the Conference Board said that its consumer confidence index fell sharply in December to 65.1 from 75.1 in November, impacted by fears of tax increases and impending government spending cuts.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment showed Friday that confidence among U.S. consumers rose more than forecast in December as Americans’ outlooks improved.
The U.S. retail industry will perform in line with sluggish U.S. GDP growth through 2012 as persistent unemployment, stock market volatility and economic gloom weigh on consumer confidence and spending, according to a new report by Moody's Investors Service.
Confidence is up according to The Conference Board, whose leading economic index (LEI) for the United States increased 1.1% in November to 112.4, following a 0.4% increase in October, and a 0.6% increase in September.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment, released Friday, showed that confidence among U.S. consumers unexpectedly declined in October, with Americans more pessimistic about current economic conditions.