US Consumer Spending Declines For Third Consecutive Month, Down 5 Of Past 7 Months

Tuesday, August 4, 2015
By Paul Martin

by Tyler Durden

For those who prefer unbiased, accurately reported data, it should come as no surprise to those who have been observing the recent swoon in the economy, that according to Gallup data, July was the third month in a row in which the average American spent less than they did in the same month a year ago, confirming that the US economy is if not in a recession then certainly no longer growing. Furthermore, as the chart below shows and confirms the already week retail spending data, of the 7 months in 2015, 5 have seen a decline in consumer spending year over year.

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