Deloitte: Consumer spending rose in June - Triangle Business Journal:

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The index rose to 1.83 percenyt from an upwardly revised gainof 1.4 percent in May. Deloitt said its index analyzes tax initialunemployment claims, real wagesz and real home prices to try to track consumer cash flow as an indicatod of future consumer spending. "The pace of decline in real consumer spending appears to be saidIra Kalish, director of global economics and consumet business with and author of the monthly "High savings rates and unemployment accompaniedd by a weak housing markert have weighed on consumer spending for but trends are starting to point in a different For example, the rate of declinew in housing prices begamn to decelerate and, in June, real home pricesd finally rose from the previous month.
" The indexz also reported the tax burden continuedr to drop with the weakening of the economy and with tax cuts embedded in the stimulus plan takinv effect. First-time unemployment claims remai n at a historicallyhigh level, the inded said, but the job markety may be bottoming out. Real wages have flattenex over the past several monthsd due in large part to weakness in thejob However, on a year-over-yeae basis, real wages are rising at an accelerating rate, in part due to The decline in real home prices also appears to be the index noted.
Lower prices and low interesr rates have encouraged a renewal in homebuyintg which, over time, will likely lead to stabilization of However, recent increases in long-term ratea could have a negative impactt on the housing market.