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Tax Software By Dave Porter Senior Staff Reporter

The decline in Consumer Confidence is not very surprising, as energy and food prices have soared and left Europeans with less retained income for arbitrary spending.

Software Tax According to Deloitte Research's Leading Index of Consumer Spending growth will likely continue in the summer, followed by a slow down in the fall.Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our business poll too!

The decline in consumer confidence and housing market may spark lower spending especially if the labor market weakens.

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This is definitely good news for the US economy, as optimistic consumers spend more and boosts growth.

Tax Help April 13, 2004 (AXcess News) New York -According to Deloitte Research's Leading Index of Consumer Spending, growth will likely continue in the summer, followed by a slow down in the fall.

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Help Tax The anticipated decline signifies the first deceleration in consumer spending since the spring 2003, and is largely a result of fewer tax reductions, says Deloitte."Consumers will continue to spend sizeable tax refunds over the next few months on high-priced goods and services, such as consumer electronics and home improvements," says Carl Steidtmann, PhD. and Deloitte Research's chief economist and author of the monthly index.

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Ernst Ernst Guide Guide Tax "However, we've reached an inflection point in the index," Steidtmann added. "In four to six months, the stimulating effects created by the tax cuts will reach a peak, resulting in a smaller amount of disposable cash and causing consumer spending to grow at a slower rate."Highlights of the index, which tracks consumer cash flow as an indicator of future consumer spending, include tax refunds, higher home prices, modest wage increases and declining unemployment.

Tax Return Sizeable tax refunds are driving strong consumer spending through May 2004. Total refunds are still expected to run up to 50 percent more than the prior year, but will be slow in coming. Tax refunds have lagged earlier this year due to increased complexity in recent tax changes. Consumer cash flow will begin to wane after May.

Return Tax Real home prices rose sharply in February, posting one of the largest single month increases in over a year. The rise in home prices creates a pool of future cash from which consumers can draw upon through the process of home mortgage refinancing.

Guide Guide Master Master Tax Real wages are up a very modest 0.2 percent from a year ago. Rising health care costs continue to be a barrier to real wage increases. A further tightening of the labor market and relief from higher health care costs are necessary to produce an increase in real wages.Declines in unemployment claims continue to contribute to slowed consumer spending growth. Consistent with the 308,000 jobs created last month, fewer unemployment claims may indicate job creation and development of a more stable economy.

Tax Preparation The index, comprising four components -- tax burden, initial unemployment claims, real wages and real home prices -- rose 4.89 percent in March, down slightly from a revised gain of 5.03 percent the previous month.AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

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