Consumer survey shows spending returning to stable levels

ROCKVILLE, Md. Consumer spending may finally be stabilizing, even though the overall outlook on the economy remains negative, according to a new consumer survey released Thursday by ChangeWave.

“The combination of a new year, a new presidential administration, and lower inflation are likely contributors to the stabilization seen in this latest [survey],” ChangeWave said. “For the first time since May 2008, there are signs of a consumer spending uptick, albeit [small].” As many as 57 percent of consumers still say they’ll spend less over the next 90 days than they did a year ago — but that’s 300 basis points better than in the December survey, ChangeWave reported. Another 13 percent say they’ll spend more — 200 basis points better as compared to last month’s survey.

Respondents were also queried on their current impressions of the economy. A total of 12 percent think the economy will improve in the next 90 days, while 56 percent think the economy will worsen over the next 90 days.

The survey polled 2,798 consumers Jan. 5 through Jan. 9.