US consumer spending in January matched the levels found in the same month of 2009, a new survey has found, which could affect hedge fund strategies.
US consumer spending in January matched the levels found in the same month of 2009, a new survey has found, which could affect hedge fund strategies.
Research by Gallup found that upper-income Americans spent an average of $113 (£73) per day in stores, restaurants, gas stations and over the internet during this period – a 13 per cent drop from December.
Both middle and low-income earning Americans also spent 13 per cent less during the study period.
The sharpest fall was in female consumers’ spending, which dropped 25 per cent from December, while men spent 5.3 per cent less in January than the month before.
Gallup concludes: “After the financial crisis and recession of the past couple of years, many upper-income and older Americans, as well as women in general, may no longer feel as secure or comfortable in spending as they have in the past.”
In other news, US manufacturing figures published earlier this month could lead more hedge funds to consider investing in this sector, with the Manufacturing ISM Report on Business suggesting that leather and allied products, textile mills and machinery offer the best prospects for returns.
