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"All components of the Index this month declined slightly, though such volatility is consistent with a recovering economy," said
The Index, which comprises four components -- tax burden, initial unemployment claims, real wages and real home prices – fell to 4.0 this month from 4.3 last month.
"Despite a colder than usual winter, retailers may benefit from 'spring fever' once the chilly temperatures subside," said
Highlights of the Index include:
Tax Burden: The tax rate remains at approximately 11.8 percent, with only a 0.3 percent increase from the month prior.
Initial Unemployment Claims: The four-week moving averageof initial unemployment claimsrose to 359,000, nearly an 11 percent rise from the previous month.
Real Wages: Real hourly wages ticked down 0.2 percent to
Real New Home Prices: New home prices dipped 0.6 percent to
For a historical analysis of Deloitte's Consumer Spending Index compared to real consumer spending, visit: www.deloitte.com/us/retail/consumer-spending-index/January2014
About Deloitte's Retail & Distribution Practice
Deloitte is a leading presence in the retail and distribution industry, providing audit, consulting, risk management, financial advisory and tax services to more than 80 percent of the Fortune 500 retailers. With more than 1,400 professionals, Deloitte's retail & distribution practice provides insights, services and solutions assisting retailers across all major subsectors including apparel, grocery, food and drug, wholesale and distribution and online. For more information about Deloitte's retail & distribution sector, please visit www.deloitte.com/us/retail-distribution.
As used in this document, "Deloitte" means
[i] The Deloitte Consumer Spending Index is a proprietary methodology that analyzes economic factors to gauge consumer cash flow as an indicator of future spending. Deloitte's analysis includes data from the