ChangeWave's latest survey shows U.S. consumer spending growth trending slightly lower in July – but remains relatively steady after the run-up over the past five months. ChangeWave Research is a service of 451 Research.

The July 1-18 survey of 2,051 consumers shows confidence and expectations have bounced back this month. Spending for household repairs and durable goods are up, even as travel/ vacation and electronics have edged lower. A few major retailers – including Target and Bed, Bath and Beyond – are showing signs of momentum.

In a further encouraging finding, an early look at Back-to-School shopping plans points to improved spending intentions compared to a year ago.

Importantly, July’s lower growth rate may be seasonal. At this point it’s uncertain whether this is a short term pause before spending growth resumes the upward movement of prior months. Nonetheless, the results show consumer spending remains stronger than in any of the past four July surveys, and expectations are the best in the past sixteen months. Report details include:

Report details include:

• Consumer Spending Behavioral Forecasts – Past 3 Years Comparison
• Changes in Consumer Sentiment and Expectations
• Consumer Confidence with the U.S. Stock Market
• Consumer Spending on Electronics, Household Repairs/Improvements, Restaurants, Retailers, Travel/Vacation, Autos, and other categories
• The Impact of High Energy Costs and Inflation on Consumers
• Consumer Interest in Wearable Technology Devices
• Consumer Use of Cloud-Based Storage Services

The complete report is available here.