Spending intentions bounce higher as Americans respond to easing inflation. Savings levels, meanwhile, remain a concern
· While still lower in year-over-year terms, total consumer spending intentions—that is, the amount consumers expect to spend in the month ahead—rebounded slightly over the past month, slowing a downward trend (figure 1).
· Inflation concerns, while still elevated, eased slightly in recent months (figure 2). The percentage of Americans concerned about rising prices for everyday purchases fell to 75% in November, down from a high of 84% in May.
· Most Americans, however, expect prices to continue rising across major purchase categories (figure 3).
· The percentage of Americans concerned about their level of savings and delaying large purchases has shown a clear downtrend since June, when inflation peaked at 9.1% (figure 4). However, nearly half (47%) of Americans remain concerned about their level of savings—coinciding with the lowest personal savings rate (2.3%) of the last 17 years (figure 8).
Place holder for notes:
Explore the Deloitte State of the Consumer Tracker
Explore the Consumer Tracker collection
Read more from the Economics collection
Learn about Deloitte‘s services
Go straight to smart. Get the Deloitte Insights app
The Deloitte Global Economist Network is a diverse group of economists that produce relevant, interesting, and thought-provoking content for external and internal audiences. The network's industry and economics expertise allow it to bring sophisticated analysis to complex, industry-based questions. Publications range from in-depth reports and thought leadership examining critical issues to executive briefs aimed at keeping Deloitte's top management and partners abreast of topical issues.
Learn more
