August 07, 2013

July 2013 Discover® U.S. Spending Monitorsm Results


Riverwoods, IL, Aug. 7, 2013- The Discover U.S. Spending Monitor fell 4 points to 92.4 in July, in response to a decline in confidence in the economy from consumers– especially those making less than $40,000. Consumers also grew more pessimistic toward their personal finances last month, which correlated with a decline in discretionary spending intentions. The Monitor is a 6-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month.

Economic Outlook

  • Respondents indicating the economy is good or excellent declined 4 percentage points to 20 percent in July.
  • Those responding that they expect the economy to get better declined 6 percentage points to 30 percent, while consumers who expect the economy to get worse increased to 49 percent, a 5-point change.
    • The number of respondents expecting the economy to stay the same increased 2 percentage points to 18 percent.
  • Consumers with an annual income less than $40,000 indicated a significant decline in economic confidence in July. Only 21 percent of respondents rated the economy as getting better, a 10-point drop from June.
    • Respondents making $40,000-75,000 indicating the economy as getting better declined 5 percentage points to 35 percent. Those making more than $75,000 annually were the most favorable on the economy getting better, with a decline of only 2 percentage points to 50 percent.

Personal Finances

  • Perspective on personal finances also declined in July. Respondents who rated their personal finances as good or excellent dropped 3 percentage points to 33 percent.
  • Likewise, consumers rating their finances as getting better declined 3 percentage points to 24 percent.
  • Despite this decline in financial confidence, respondents who said they will have money left over after paying their bills this month increased to 47 percent, a 1-point change.
  • Gender also played a role in financial outlook this month.
    • Female respondents who rated their personal finances as getting better declined 5 percentage points to 25 percent. Men with the same outlook declined only 1 percentage point, to 22 percent.

Spending Intentions Decline

  • Discretionary spending intentions declined in all categories last month, most notably with personal expenses. The number of consumers planning to increase their overall spending in the next 30 days only declined 1 percentage point to 30 percent.
    • However, intent to spend more on discretionary personal purchases dropped 5 percentage points to 9 percent.
    • Intent to spend more on household expenses declined 1 point to 39 percent.
    • Intent to spend more on household improvements and major personal purchases both declined 2 percentage points, to 16 percent and 15 percent, respectively.
    • Intentions to save and invest more next month increased 1 percentage point to 9 percent. However, intent to save and invest less next month also increased by 3 percentage points to 42 percent.

About Discover U.S. Spending Monitor

The Discover U.S. Spending MonitorSM is a monthly index of consumer spending intentions and capacity that is based on interviews with a random sample of 8,200 U.S. adults conducted at a rate of 275 per night. In addition to spending, the survey asks consumers their opinions on the U.S. economy and their personal finances. The Monitor began in May 2007 with a base index of 100. Surveys are conducted by Rasmussen Reports, an independent survey research firm (

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit
Source: Discover Financial Services
Matthew Towson, 224-405-5649