In this week's Deep Dive, News 12's Kristie Reeter takes a look at
what spending trends have looked like this year in Connecticut.
In a News 12 poll, a majority of people in Connecticut said there
was no change, while 33% said they were buying less.
What has the spending trend been in Connecticut overall?
“Spending has grown aggressively in Connecticut year over year,
remember we weren't spending a lot last year, but spending across the counties
that we track has been jumping, especially Litchfield County where it is up 71%
from a year ago,” says Caleb Silver, with Investopedia. “Again, we weren't
spending a lot last year, big spending jump in Litchfield County. Hartford
County not as much 36.4% and pretty good there too. And Fairfield County up
34.3%."
Silver also says there has been a specific trend spotted in credit
card purchases.
“Folks have been spending a lot of money on home improvement, a
lot of money on hobbies and a lot of money on sort of arts and crafts and
sporting goods,” he says. “The spending hasn't been where exactly where we
think it hasn't been— that's in restaurants, that's in arts and entertainment
and leisure activities. But spending has grown considerably in Connecticut year
over year."