Consumer Spending is Its highest in Nine Years

There's optimism since the election and we're buying more. American consumers are spending more than a hundred bucks a month -- the highest level since 2008.

Texas economist Dr. Ray Perryman says consumer spending is two thirds of our economy.

"Basically, as consumers go so goes the economy."

Dr. Perryman says we're buying more big ticket electronic items and that's good news.

"The bottom line is, when consumers are feeling good and spending money the economy is going to do fairly well."

December was a big month, but that's because of Christmas. February's $101 average was the highest in nine years.

Dr. Perryman says some of it is due to optimism about President Trump.

"We've had about a year, year and a half now of rising wages after they were stagnant for a long time and that's helped a lot and I think, generally, people are seeing the economic outlook as positive and they're spending money."

American's are spending more than a hundred dollars a month on average and Dr. Perryman says a lot of it is electronics -- like TVs and computers.

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