Consumer Payment Card News

Spending Confidence

The new survey shows that only 34% of consumers expect to spend more in July than they did in June, a six point decline from last month’s survey. The “Discover “Spending Confidence Monitor” also shows that while consumers sustained their spending from May to June, their views on the economy remained pessimistic, as 62% rate the economy as fair or poor and 59% expect the economy to worsen. About 49% of consumers said they expected to sustain their spending from June to July, but when it comes to spending more, fewer consumers expected to do so. Less 22% feel the economy is improving, while 59% feel the economy is getting worse.

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