Deloitte Consumer Spending Index Buoyed on Housing, Reports

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Weakness in other areas were offset

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Big4, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC reports the Deloitte Consumer Spending Index (Index) rose in September, primarily due to a nearly 11 percent increase in home prices. It rose to 3.53 from a reading of 3.27 the previous month. notes the Index, which tracks consumer cash flow as an indicator of future consumer spending, also held some bad news in that personal income and spending data for August were disappointing. Real incomes dropped 0.3 percent while spending was up just 0.1 percent from the previous month.

As well, the labor market remains a drag on the Index and the broader economy. Claims have moved up and down and hiring seems limited.

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  • Kristy Short
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