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Sunday, 06 March 2016 21:18

What America Thinks: Consumer Spending Update: Spring Is In The Air

Winter is in its final weeks across the country, and the warmer weather means consumers are gearing up for some spring cleaning.

Approximately one-in-four consumers anticipate spending more on home improvement projects, such as remodeling, landscaping or painting in the coming month. These findings are up seven points from last month and the highest result since last June.

While it is not unusual to see a growth in spending for home improvement projects in the spring, the sudden burst in intent to spend on these projects this year is quite different from past results. In 2015, consumers started indicating additional spending for projects like this in March, but then there was a slow, gradual growth until June at which point the numbers peaked and then began falling again.

In other spending categories, including household appliances, furniture and electronics, clothing and accessories, and entertainment, consumers are more likely to say that they don't anticipate any more - or less - spending than usual.

ONN