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Consumers cut spending during government shutdown

by Jennifer Palmer Published: October 15, 2013
International Council of Shopping Centers Chief Economist and Director of Research  Michael P. Niemira. Please call Malachy L. Kavanagh @ 646-728-3495 ICSC Communications and External Relations for more information on this subject.
International Council of Shopping Centers Chief Economist and Director of Research Michael P. Niemira. Please call Malachy L. Kavanagh @ 646-728-3495 ICSC Communications and External Relations for more information on this subject.

Forty percent of consumers have curbed spending because of the partial government shut down, according to a new poll by the International Council of Shopping Centers. Lower income families are being even more cautious, with nearly half (47%) of consumers earning $35,000 or less scaling back spending. Among consumers making $100,000 or more, 32% said they have cut back.

Most said they cut back “a little” but others said they reduced spending by a considerable amount. Michael Niemira, vice president of research for the ICSC, had this to say about the impact on holiday shopping:

“As Congressional leaders optimistically predict a budget deal may soon be reached, it is clear that the fallout of the past two-week impasse in Congress has affected consumers’ willingness and maybe their ability to spend. Hopefully, if the end of the government shutdown truly is in sight, this is likely to restore consumer confidence quickly and well ahead of the holiday season.”

by Jennifer Palmer
Investigative Reporter
Jennifer Palmer joined The Oklahoman staff in 2008 and, after five years on the business desk, is now digging deeper through investigative work. She's been recognized with awards in public service reporting and personal column writing. Prior to...
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