Consumer spending drops in June

Despite the fact that there have been a number of signs that the economy is slowly improving, daily consumer spending dropped between May and June.

According to a new poll from Gallup, Americans spent $67 per day during June, in stores, at restaurants and gas stations, and online. That number marked a decline of $5 from the previous month, but is up $6 from the same month in 2009. The $67 a day is more or less in line with recent months, which are near the highs for 2009. But it is well below the standard set in 2008 before the recession hit, when consumers spent between $81 and $114 a day.

Gallup said that Americans in the East spent less per day in June than either the previous month or June of 2009. Those consumers spent $62 a day, down $13 from the previous month and $3 from last year. Spending in the Midwest, meanwhile, increased dramatically from last year.

A report from financial news website 24/7 Wall Street said that the data suggests the job market is improving. Because Gallup polls are self-reported by consumers, this may signal that confidence is on the rise.