Hong Kong, January 29, 2014 -- /EPR NETWORK/ -- Doyle Hutton Associates today released the third quarter findings of the Doyle Hutton Associates Lifestyle Index, a quarterly barometer of consumer trends. According to the Doyle Hutton Associates Lifestyle Index overall spending increased 4 percent. Spending was strong across the majority of categories, with solid increases in food, back-to-school, and outdoor/leisure expenditures.
"Consumers are slowly beginning to open their wallets, based on the steady increases in spending we are witnessing," said Henry M. Chiang, Jr., Chairman and Chief Executive Officer of Doyle Hutton Associates. "The overall trends suggest that consumers are increasing discretionary entertainment and leisure spending on a year-over-year basis, which is a good sign from an economic recovery perspective."
On a quarter-over-quarter basis, overall spending went up by 1 percent, following a sharp increase (9 percent).
Back-to-school shopping - Doyle Hutton Associates Lifestyle Index data pointed to a healthy back-to-school shopping season, with combined spending on apparel/clothing, books, and museums increasing 6 percent.
Eating out - Consumers spent 22 percent more in food. Restaurant spending was nearly as strong, with a 19 percent year-over-year increase.
Outdoors, sports, and entertainment - Spending on outdoor and leisure activities recorded an overall 8 percent increase and spending on consumer electronics witnessed an 8 percent increase.
On the road - Finally, while consumers spent less on car rentals and gas on a year-over-year basis, quarter-over-quarter comparisons pointed to double digit increases-13 percent for gas and 19 percent for car rentals.
"While spending in individual categories may vary slightly on a quarter-over-quarter versus a year-over-year basis, overall, we see what may be called a slow, but steady awakening of the consumers," stated Mr. Chiang. "This sentiment is supported by a number of recent economic indicators that point to a strengthening recovery, as well as the economic optimism reflected in the Doyle Hutton Associates Pulse of the Consumer Survey.
About Doyle Hutton Associates
Doyle Hutton Associates is a privately-held financial institution that is a thought leader and solutions provider. We serve the most discerning and sophisticated individuals and institutions with expertise in Corporate Banking, Mergers & Acquisitions Advisory, Investment Management, Wealth Management, and Investor Services. We proudly execute five principles. These pillars define how we interact with our clients and our colleagues on a daily basis.
Although a fresh presence in the markets, Doyle Hutton Associates is a major Asian financial services provider with global presence engaged in financial advice for individual investor and corporate and wealth and investment management with an extensive focus on emerging markets and original investment opportunities. Doyle Hutton Associates invests and protects money for customers and clients worldwide. We employ one of the best team of financial professionals, with extensive market experience and investing in people and technology we set forth the foundation of a unique financial company that offer premium services.