Consumer Payment Card News

Consumer Pulse

A monthly barometer of consumer spending intentions shows a slight up-tick for April. However, consumer’s economic and personal finance outlook remains grim. The latest “Discover U.S. Spending Monitor” posted an 85.4 reading compared to 85.1 in March. For the last four months including April, the Monitor has remained in the 85-86 range. The number of consumers who say they are spending more, particularly on household expenses, rose for the third straight month to 38%. Lower and middle income consumers hit record highs in April in curtailing their discretionary spending, with 57% of those making under $40,000 and nearly 54% of consumers making $40,000-$75,000 planning to spend less on discretionary personal purchases. While still low compared to numbers reported last fall, 13% of upper income consumers feel that economic conditions are getting better, up nearly two points from March. And 24% rate their personal finances as excellent, also up two points from March.

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