Document Type

Presentation

Publication Date

3-21-2013

Abstract

The Labor Department’s 2012 report on consumer spending confirmed the recent recession forced consumers to alter the typical lifestyle spending habits. It’s apparent from the available consumer expenditure data that changes in the spending behavior for travelers dining choices continued beyond several years into the recovery period. In fact, the recorded decrease in food expenditures, from December 2007 to June 2009, was the largest inflation-adjusted amount ever recorded by the Bureau of Labor Statistics (BLS) since 1984. The increase in unemployment to 9.3% in 2009 was another important attribute of the consumers’ reduced spending levels during this recessionary period. According to the Food Expenditure Tables and the consumer Expenditure Survey U.S. household spending on food declined 5% between 2006 and 2009.

Comments

Publisher Statement:

All manuscripts published in AABRI journals are published online, open access. Manuscripts are available to the readers at no cost. Readers may read, download, and use the manuscripts and information therein for any lawful purpose without permission of AABRI.

Sponsorship/Conference/Institution

Academic and Business Research Institute International Conference (AABRI)

Location

New Orleans, LA

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