Tight consumer spending providing mixed bag, according to reports

Tight consumer spending providing mixed bag, according to reports

PARAGOULD — The cash registers have been ringing less than usual in Greene County, according to the county’s June sales tax report, with the county’s sales tax numbers over the past couple of months providing a mixed bag to consider.

Consumer confidence and spending on vehicles decline

In its Auto Market Weekly Summary on the U.S. auto sector, Cox Automotive said consumer spending on motor vehicles and parts declined 6.1% in May. They described this as the steepest monthly decline among major durable goods categories. Furthermore, they said the average consumer’s ability to spend weakened during this period due to a decrease in real personal income of 0.4%. The savings rate also fell, to 4.5%, which Cox Automotive said signals…