Deloitte: Consumer spending flat in February

New York -- The Deloitte Consumer Spending Index remained flat in February 2014, showing only a marginal change. The Index tracks consumer cash flow as an indicator of future consumer spending.



The Index, which comprises four components, tax burden, initial unemployment claims, real wages and real home prices, ticked down slightly to 3.9 from 4.0 last month. Highlights of the Index include:



Tax Burden: The tax rate stayed at 11.8%, consistent with recent months.



Initial Unemployment Claims: The four-week moving average of initial unemployment claims fell to 332,600, a 7% decrease from the previous month.



Real Wages: Real hourly wages moved up 0.2% to $8.82, and have been gradually increasing over the past year.



Real New Home Prices: New home prices dipped 2.3% to $111,000 from $113,000 the month prior.



"The fundamentals for consumer spending remain stable," said Daniel Bachman, Deloitte's senior U.S. economist. "While the economy continues to grow at a moderate pace, expect growth to accelerate over the next six to eighteen months, and the outlook for consumer spending to improve along with the economy."