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Report: Consumption looks constrained in 2014
New York – Factors including the permanency of the 2013 payroll tax increase, uneven job creation and uncertainty caused by the autumn partial government shutdown are expected to continue constraining consumer spending in 2014. According to a new economic insight report from Sterne Agee, lower gas prices, a lingering wealth effect from home price appreciation and record highs in equities helped boost holiday spending, but will not be enough to counteract a trend toward weak consumption that has been in place since the beginning of this year.
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Two-in-three shoppers are done for the holiday
Only two-thirds of Americans are all or almost finished with their holiday shopping as of Dec. 23. Of the 24 retailers surveyed by America’s Research Group and Inmar, only three retained 70% or more of their customer base, with Walmart topping the list at 88.1%, followed closely by Dollar Tree at 80.4%, and Target at 72.1%.
