HispanicBusiness

Americans' self-reported daily spending averaged 77 dollars in August, up from 73 dollars in July, according to a Gallup poll released on Friday.

It was the best August spending level recorded since 2008 and the highest average monthly spending since December 2008, the poll noted.

Average spending among American households with annual incomes of $90,000 or less rose from 59 dollars in July to $63 in August, the highest level since December 2011.

Upper-income spending, which has been on a generally upward trajectory so far this year, averaged $135 as it did in July.

The results are based on Gallup Daily tracking from Aug. 1-31, with a random sample of more than 14,000 adults in all 50 U.S. states and the District of Columbia.

Consumer spending, which accounts for about 70 percent of the U.S. economy, grew by a 1.7 percent annual rate in the second quarter, compared with an increase of 2.4 percent in the previous quarter. Economists worried that sluggish job market and stagnant wage growth would make consumers more cautious on spending.