Gallup survey says consumer spending hit a six-year high in May, a significant $10-a-day increase on the month before
American consumer spending hit a six-year high in May, according to survey results released by Gallup on Monday.
Americans reported spending $98 a day, spiking $10 above the April average and climbing higher than any other point since May of 2008.
Gallup noted that spending was buoyed, in part, by a surge of Memorial Day weekend shopping. Past surveys have typically registered $3 to $6 jumps, but this year, with spending jumping by $10, the results suggest something deeper is stirring in the economy, other than a sudden demand for hot dogs.