With the price of a gallon hovering above $3, state economist says spending should rise in time for holidays.
With the price of a gallon hovering above $3, state economist says spending should rise in time for holidays.
According to the Bureau of Labor Statistics, the average American consumer spent $2,418 on gas in 2013. Gas is a fixed part of Americans’ budgets, and any money saved from lower gas prices will likely be spent, rather than saved, Lehner said.
“There’s more room for groceries, more room for holiday spending than you would have otherwise,” he said. In addition to boosting sales at retail stores, “It wouldn’t surprise me to see better numbers at restaurants or Blazers games,” he said.
Read more at OregonLive.com.
