Consumer Spending Down In Jan–But Expected
Consumer spending dropped in January, but because of the end of holiday spending, the trend was expected. The open issue is if consumer spending by month will move ahead of the same months last year as the 2012 holidays approach…
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Consumer spending dropped in January, but because of the end of holiday spending, the trend was expected. The open issue is if consumer spending by month will move ahead of the same months last year as the 2012 holidays approach
Americans’ self-reported daily spending averaged $63 in January, down from $76 in December but similar to the January spending levels in each of the last three years. Further, the $13 decline in average daily spending between December 2011 and January 2012 is typical of the post-holiday shopping season decline that Gallup has seen since 2010.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.