Consumer Payment Card News

Consumer Expectations

The latest barometer of consumer attitudes and spending went into the toilet this month. Americans are apparently waking up to the notion that the U.S. faces a lengthy, drawn-out recovery. The RBC “CASH (Consumer Attitudes and Spending by Household) Index” dropped to 22.4 for July, an 11.9 point decline from the prior month. The Index is composed of four sub-indices: “RBC Current Conditions Index”; “RBC Expectations Index”; “RBC Investment Index”; and, “RBC Jobs Index.”
The “Current Conditions Index” for July declined to 23.3 from June’s 23.8. The “Expectations Index” plunged sharply, dropping 36.1 points to 4.8, compared to 40.9 in June. The “Investment Index” showed little movement this month, standing at 30.9 for July. Despite the unemployment rate reaching the highest level in 26 years, the “Jobs Index” for July saw a minor uptick to 50.5, up 3.8 points from the 46.7 observed in June. For more information visit: “www.rbc.com/newsroom/rbc-cash-index.html”:http://www.rbc.com/newsroom/rbc-cash-index.html

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