(PRWEB) July 22, 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 that the Deloitte Consumer Spending Index (Index) posted its fourth consecutive increase in June. The Index, which comprises four components — tax burden, initial unemployment claims, real wages and real home prices — rose to 3.22 from a reading of 3.09 the previous month.
Big4.com reports home prices are stabilizing and even turning up in some markets. Record low interest rates are helping demand and working to increase refinancing activity. Most refinances are being done for a lower payment as there is little equity to be cashed out.
Big4.com also notes gasoline prices are down 20 cents in the past month but are down just 14 cents from a year ago. Unseasonably hot weather across much of the country could be offsetting some of the benefit of this price reduction.
The Index tracks consumer cash flow as an indicator of future consumer spending.
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