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Discover Survey Seeks to Quantify Consumer Woes

RIVERWOODS, Ill.-- A monthly survey of consumer attitudes toward spending has documented the continuing slide in consumer spending on discretionary items in favor of spending on essentials.

By David Morrison | Updated on July 11, 2008

RIVERWOODS, Ill.– A monthly survey of consumer attitudes toward spending has documented the continuing slide in consumer spending on discretionary items in favor of spending on essentials.

The Discover U.S. Spending Monitor fell nearly a point in June to 85.9, as consumers struggled with rising prices for essentials and continued to lose confidence in the nation’s economy, the card brand reported. Economic confidence hit a new Monitor low, falling in June to a level that is nearly 30 points lower than a year ago.

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