Consumer spending declined in December, says Deloitte
According the latest Consumer Spending Index from Deloitte, consumers spent less money in December at retail locations, although prospects aren't as bad as they initially sound.
The Index is compiled using readings of tax burden, initial unemployment claims, real wages and real home prices. While the Index fell overall from 1.93 in November to 1.86 in December, Deloitte was quick to note it actually improved in three of the four categories observed to determine the scale.
"The new year brings new demands on retailers," said Alison Paul, vice chairman and U.S. retail and distribution sector leader at Deloitte LLP. "In addition to a challenging economic climate, shifts in consumer behavior – from price consciousness to technology adoption – will force retailers to find new ways to remain relevant to their customers in 2012."
This year is expected to be a big one for retailers, but not until the spring. According to recent data from the National Retail Federation, container shipments were flat in January but will pick up later this year.
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