Discover U.S. Spending MonitorSM Consumer Confidence Remains Steady in December
04 Gennaio 2012 - 1:00PM
Business Wire
Consumer confidence remained fairly consistent in December, as
consumers viewed the economy and their finances as improving, but
consumers are heading into the New Year with conservative spending
intentions according to the Discover U.S. Spending Monitor. The
Monitor, a 4-year-old daily poll tracking economic confidence and
spending intentions of nearly 8,200 consumers throughout the month,
recorded a 1.3-point decline from the previous month to 85.0
percent.
More than 23 percent of consumers felt economic conditions were
getting better in December, a rise of more than 4 points from
November. Similarly, those who believe economic conditions were
getting worse declined by nearly 2 points from November to 53
percent.
The percentage of consumers who rate the economy as poor dropped
3 points from last month to 58 percent. While only 9 percent of
consumers rate the economy as good or excellent, a 1-point increase
from November.
Views of Personal Finances Improve
Consumer sentiment toward their personal finances improved from
last month as well.
- 33 percent of consumers rate their
personal finances as good or excellent and 24 percent rate their
personal finances as poor, unchanged from November.
- Consumers believing their personal
finances are getting better increased for the fourth consecutive
month to 19 percent, up 1 point compared to November. The percent
of consumers who believe their personal finances are getting worse
declined to 49 percent, down nearly 2 points from November and the
first time this number has been below 50 percent in seven
months.
With Less Money Left Over, Consumers Plan to Pull Back on
Spending Next Month
Consistent with previous Monitor reports around the holidays,
fewer consumers expect to have money left over after they finish
paying their monthly bills. Accordingly, they plan to cut back next
month on spending.
- 45 percent of consumers expect to have
money left over after paying monthly bills, a 3-point decrease from
November.
- Nearly 29 percent of consumers who
expect to have money left over anticipate that they will have less
money left over after they finish paying their monthly bills than
they did last month. This is a 6-point increase from November.
- Consumers planning to spend less in the
next month more than doubled, rising from 15 percent in November to
31 percent in December.
Consumers’ Plans For Discretionary Spending Are
Conservative
Consumers are heading into 2012 with lower discretionary
spending intentions as well.
- Consumers planning to spend less on
discretionary entertainment expenses, such as going out to dinner
or the movies, increased by 3 points to 48 percent in December and
those planning to spend the same or more in this category declined
2 points from November to 49 percent in December.
- Consumers planning to spend less on
major personal purchases, such as a vacation, increased by 2 points
to 47 percent for the month. Forty-nine percent plan to spend the
same or more on this category, which is at the same level as in
November.
- On home improvement purchases, 50
percent of consumers planned to spend less in the month ahead, up 2
points; 45 percent plan to spend the same or more, down more than 2
points from November.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company operates the Discover card, America's cash rewards
pioneer, and offers personal and student loans, online savings
accounts, certificates of deposit and money market accounts through
its Discover Bank subsidiary. Its payment businesses consist of
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit http://www.discoverfinancial.com.
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