(PRWEB) April 15, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, PwC, reports March marked only the third monthly increase over the past 12 months for the Deloitte Consumer Spending Index and recent developments show consumer cash flow may be strained going forward.
The Deloitte Consumer Spending Index tracks consumer cash flow as a way of predicting future consumer spending. Carl Steidtmann, Deloitte’s chief economist and author of the monthly index supplied an overview.
“The Index turned upward as the pace of declining new home prices slowed,” he said. “Despite this improved performance, there is little evidence the housing market is picking up. On the positive side, initial unemployment claims continue to move lower from a year ago.”
Big4.com looked at the recent developments that put constraints on consumer cash flow. These include the facts that gasoline prices continued to rise, the savings rate has fallen from 4.7 percent to 3.7 percent over the past two months and real incomes fell 0.1 percent in February although consumer spending rose.
Other highlights from the Deloitte research include the fact that the tax burden continues to rise slowly even as tax revenues collected by the Federal government stagnate. The burden of the increase comes at the state and local level where increases have been needed in attempts to balance budgets. As well, jobless claims continued to fall and were at 354,750 in the most recent month.
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