Consumer Spending Likely to Increase for April, According to Georgetown Institute for Consumer Research’s Problem-Driven Consumption Index
FOR IMMEDIATE RELEASE: April 27, 2017
CONSUMER SPENDING LIKELY TO INCREASE FOR APRIL
According to Georgetown Institute for Consumer Research’s Problem-Driven Consumption Index
Washington, D.C. – Consumer spending is likely to increase in April, according to the Georgetown Institute for Consumer Research’s Problem-Driven Consumption Index (PDCI). The index increased in April to 142.3, up from 141.3 in March. The data suggests there will be a small increase in non-seasonally adjusted spending for April relative to March.
“The PDCI increased ever so slightly in April,” said Kurt Carlson, director of the institute and professor of marketing at Georgetown University’s McDonough School of Business. “The plateau corresponds with a pause in retail spending increases, but runs counter to the recent increases in consumer confidence. The PDCI is still well below record highs.”
The April data looks at different sectors of the economy, and is driven by increases in the PDCI related to home and housing, health, communication, and attire problems. In contrast, there were decreases in the personal care, social, and transportation sectors.
The Georgetown Institute of Consumer Research derives the PDCI from responses to the Consumer Problem Survey (CPS). The CPS is a monthly survey of a nationally representative sample that measures consumers’ problems that require market solutions, thereby allowing the institute to track the quantity of, severity of, and the types of problems that consumers experience. To view the full report, visit http://consumerresearch.georgetown.edu/research/problem-driven-consumption-index-monthly.
About the Georgetown Institute for Consumer Research:
The Georgetown Institute for Consumer Research develops innovative, ground-breaking research to illuminate the challenges and opportunities of understanding and marketing to consumers. The institute seeks to impact business practice and improve consumer decision-making. For more information or to read the latest research from the institute, visit http://consumerresearch.georgetown.edu.
About Georgetown University’s McDonough School of Business:
Georgetown University’s McDonough School of Business, the premier destination for global business education, provides a transformational education through classroom and experiential learning, preparing students to graduate as principled leaders in the service to business and society. Through numerous centers, initiatives, and partnerships, Georgetown McDonough seeks to create a meaningful impact on business practice through both research and teaching. All academic programs prepare students to be “global ready” by providing a global perspective, woven through the undergraduate and graduate curriculum in a way that is unique to Washington, D.C. – the nexus of world business and policy – and to Georgetown University’s connections to global partner organizations and a world-wide alumni network. Founded in 1957, Georgetown McDonough is home to some 1,400 undergraduates, 1,000 MBA students, and 1,200 participants in executive degree or custom programs. Learn more at http://msb.georgetown.edu. Follow us on Twitter: @msbgu.