People don't have "spending" money. My thought is, "If I don't absolutely need something, it doesn't get bought!"
<rant_mode on>
There is a dichotomy in the United States these days. The reports say the economy is doing well but people report the economy sucks.
The Economy (Big-E) is doing well for multi millionaires that have large stock portfolios. They are adding billions to their net worth (that they didn't earn!)
The economy (Little-e) sucks because prices keep going up and quantity keeps going down and wages are not following suit. The company that hires people will fire them to save a nickel while CEO's get millions in bonuses so they can build another vacation home or buy more rental properties to over-charge their tenants.
This will not continue. A pipeline has two ends. If the pipeline at the near end (Big-E) is large and the pipeline at the far end is smaller (little-e) only a little will come out of that end of the pipeline, no matter how much pressure is applied. Have you noticed that restaurants and grocery stores that were once full to over-flowing now always have empty tables and fewer customers? People who once said to themselves, "Maybe we need that _____" are not doing that any longer. They buy ONLY what they absolutely need and nothing else. I make a list and stick to it, buying only what I absolutely need, and nothing else.