US Consumers Still Depressed

The chart below (click to enlarge) presents the weekly aggregate of daily consumer spending data gathered by Gallup. It excludes spending on cars, homes or normal household bills:

Note that during 2008 most values were registered in the 85-115 range (red lines). From the beginning of 2009 this range has shifted down to 55-75 (green lines). This is straightforward evidence of the depressed state the consumers remain in. They were spending almost double in 2008 even if in 2008 the economy entered a recession!

I have also noticed that from February 2010 there were no values registered below 60. Indeed this was a period of some economic strength. That is why I think that new readings below this level will confirm the scenario of economic weakness ahead.