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Home | News | Market Studies

Consumer Spending Rises for Second Straight Month

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The index tracks consumer cash flow through a handful of measures—tax burden, initial unemployment claims, real wages, and new home prices—as an indicator of future consumer spending. Out of those four gauges, only one improved: Real hourly wages were up 0.5 percent from August to $8.86 in September, Deloitte reported.

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Housing, Economy Stuck in Catch 22

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Delinquency and foreclosure rates also were much improved. According to Trulia and Black Knight, the national delinquency and foreclosure rate was 74 percent back to normal in August—the same as one quarter ago and up from 56 percent one year ago. Trulia's chief economist, Jed Kolko, said that with the share of mortgage borrowers with negative or near-negative equity dropping, the default rate should continue to drop.

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